Investor Presentation Augus gust t 2019
Agen enda da MBH at a G Glance nce Acqu quisi isiti tion on Strategy tegy & P Portfo tfolio io Overview ew Market et Positi sition on & Indu dust stry Trend nds Finan anci cials als (pro-for forma) a) Investment stment High ghligh ights ts and d Outloo look IR Se Services ces 3
MBH BOARD RD MBH at a G Glance nce Highly committed Management Board with broad M&A and relevant sector experience Callum um Laing ng Allan an Presl esland and Victo tor Tan Davi vid d Hallam am Toby by Street eet Victo toria a Sylves vester ter Chief ef Financ ance e Officer cer Chief ef Exec ecuti utive ve Officer er Non Non-Exec xecuti utive ve Chai airman man Non – Exec xec Direct ector Non – Exec xec Direct ector Exec xec Direc ecto tor Joined MBH in 2017 Joined MBH in 2018 • Joined MBH as as • Joined MBH as as Joined MBH as as • Joined MBH as CFO • • • Non-Exec Director Non-Exec Director in Exec Director in 2019 and Executive More than two • Founder of Parenta • in 2018 2018 Director in 2017 decades of Group, UK’s largest Extensive experience • experience in starting, provider of Business executive, Extensive experience in leading businesses • • Member of the • building, buying, and vocational training and is a Principal of entrepreneur and in leading businesses Institute of selling businesses and software investor with over to grow sustainably, her own company in Chartered systems to the Early 30 years of structuring joint the Group Acacia Accountants since Partner at Unity • Year’s education experience ventures and strategic Training Limited. 2004 Group and pioneer of sector collaboration, as well the Agglomeration Owner of vocational Extensive M&A and as investing for • Over 17 years • • model Active member of • Investor Relations private equity training company in finance experience the Vistage CEO experience UK at Big 4 chartered Published two • Private advisory. Owner of digital accounting firms, • business bestsellers Development of marketing agency in Principals • • and more than 800 start-ups, SMEs, Top Published Amazon • representative on the small and medium London business interviews 25 ASX MNC bestseller size businesses into Board. “Improving the Commissioner World large plc Worked at renowned • • business of Business Angel organisations real estate & private Investor Forum, Childcare” equity company Singapore Consultant for Mayfair, London • venture capital investments 4
INVES ESTMENT MENT CASE SE MBH at a G Glance nce MBH builds up a value-enhancing SME portfolio of profitable businesses with excellent growth prospects 1. Buy and Hold ld Implementing Agglomeration™ 2. Organic ganic Grow owth 'buy and hold' strategy gives MBH access to deals below Enabling business INVESTMEN TMENT T CASE market rate driving significant owners to flourish and value and accret etive e growth. h. grow their business With our accretive acquisition growth strategy, we are building a organi anical cally in a plc diversified portfolio of excellent companies and talented environment entrepreneurs, giving investors unprecedented access to profitable businesses in the $1m-$5m EBITDA range. For investors, we provide the opportunity to participate in the sustainable success of these attractive SMEs with promising growth 3. Syner ergist gistic ic Grow owth prospects. Encouraging, but not forcing synerg nergies es between each company and each vertical through synergistic growth 5
ACQUI UISITION TION HIGHLI GHLIGH GHTS MBH at a G Glance nce 2018/ 8/ Q1 2019 Strengthened Construction and Education vertical with profitable SMEs from UK, New Zealand and Singapore, and opening a new vertical, Engineering Services Company mpany Indu dust stry Descr escript iption ion Based in the UK with a strong reputation for delivering quality fit-outs in Const struction ruction Services vices the Commercial sector Leading design and implementation company in the commercial interior Const struction ruction Services vices industry in New Zealand Guildprime’s focus is luxury retail fit-outs and refurbishments, high end Const struction ruction Services vices commercial office spaces and residential across the UK and also overseas U.K.'s leading provider of business software and vocational training for Educa cation ion early years settings Provides multiple award-winning vocational training services across Educa cation ion the UK, specialising in the healthcare sector Engineering group focused on four core business divisions: Energy & Engin ineer erin ing g Ser ervices vices Electrical, Fire & Hydraulics, Building & Construction Services and Power Generation. MBH will add 15-20 acquisitions per year. 6
GROUP UP PRO FORMA MA MBH at a G Glance nce KPI’S 2018 Strong revenue growth through organic growth & portfolio expansion in 2018 and 2019 Note : 2018 and 2017 figures only represent the financial results for Cape, Parenta and Acacia 2017 £24.78 8 million ion £3.10 10 million ion IN REVENUE IN EBITDA 3 EPS ACCRETIVE ACQUISITIONS 2018 £30.30 0 million ion £3.30 million ion IN REVENUE IN EBITDA Du Boulay Contracts was acquired in Dec 18. APEV was acquired in June 2019. £6.4 million on £54 million ion £5.4 million on IN REVENUE AS OF 31 IN REVENUE expected Guildprime Specialist Contracts Ltd was IN REVENUE for financial March 2018 for 12 financial year ending 31 st acquired in April 2019. year ending 30 th months July 2019 September 2018 7
AGGLOMERATION™ Acqu quisi isiti tion on Strategy tegy MODEL & Portfolio tfolio Acquisition strategy allowing EPS enhancing, accretive acquisitions Profitable SME‘s with in depth industry experience Platform for growth with long-term incentivation of key personnel MBH owns 100% of the acquired businesses predominately using stock to complete transaction Acquisitions are EPS accretive, offering long-term value creation for shareholders Vertical approach across multiple geographies and sectors that are well established, profitable, debt free and looking to scale 8
LIKE FOR R LIKE PORTFO FOLI LIO O Acqu quisi isiti tion on Strategy tegy OVERVIEW RVIEW & Portfolio tfolio Excellent companies with talented entrepreneurs Acquir uired in Reve venu nue 2018 Staff Locatio ion MBH H Shareho hold lding ing Comp mpany ny (mil ill/GB l/GBP) EDUCA CATION ON SERVICES CES 22 nd Aug 2018 52 United Kingdom 100% 4.21 22 nd Aug 2018 30 United Kingdom 100% 5.99 3 rd Sep 2018 33 New Zealand 100% 20.09 CONSTRUCT TRUCTION SERVICES CES 8 th Dec 2018 6.4* 13 United Kingdom 100% 18 th April 2019 27 United Kingdom 5.4 100% ENGINEE EERI RING G SERVICES CES 17 th June 2019 210 Singapore 54** 100% *du Boulay numbers represents 12 months to 31 st March 2018 ** APEV expected numbers for financial year ending 31 st July 2019 9
CASE STUDIES ES – Acqu quisi isiti tion on Strategy tegy ENGINEERING INEERING SERVIC VICES ES & Portfolio tfolio Asia Pacific Energy Ventures Pte Ltd Busin siness ess APEV was formed in 2014 and has a headcount of 210 under its two main brands – Twenty20 and Pacific Energy Consulting. The engineering group has four core business divisions: Energy & Electrical, Fire & Hydraulics, Building & Construction Services and Power Generation. In line with MBH’s Agglomeration strategy the acquisition will be Earnings Per Share Investm estmen ent accretive. APEV’s management estimates that the earnings before interest and case income tax (EBIT) for the year ending 31 July 2019 amounts to approximately SGD 10.3 million (GBP 5.8 million). Deve velo lopme ment nt Agglomeration allows APEV to target multiple industry sectors, diversify revenue streams and reduce risk, while achieving economies of scale and a consistent customer experience through shared operations and support functions. £54.00m 4.00m* 210 Proje ject ct Case se APEV are focused on providing government, corporate and industrial clients with Study improved energy efficiency and cost savings, greater energy generation capacity and Full l time me Reve venu nue 2019 system reliability, and improvements in transmission efficiency and network Emplo loye yees management capabilities. * APEV expected numbers for financial year ending 31 July 2019 10
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