MBH Corporation, a ‘diversified investment holding company’, has agreed terms for the acquisition of Somerset-based Approved Air, which provides validation/verification testing of medical facilities to ensure HTM compliance.
The company also as an independent specialist, giving ‘objective assessment and support with improvement plans to keep both patients and staff safe'.
Subject to regulatory approval, Approved Air will be part of MBH’s Engineering vertical business line. With the acquisition, and the continued diversification of companies becoming part of the MBH Corporation, the MBH portfolio now stands at 27 companies across eight industry sectors and five countries.
Established by David Williams in 1998 as DWCS, and becoming Approved Air in 2010, Approved Air's services include particle counting, duct dust sampling, CO & CO2 monitoring, active air sampling, and temperature and humidity testing, ‘among other essential services’. Having partnered with several NHS Trusts over many years, Approved Air says it ‘delivers a safe and efficient service with the flexibility required within an NHS Trust environment’.
Approved Air’s unaudited revenues for full year 2021 were £ 1.7 m. MBH says the total consideration for the acquisition of Approved Air will be between £2.7 m and £3.4 m, which will be settled by way of a listed bond in accordance with the MBH bond programme.
David Williams, director, Approved Air, commented: "Becoming part of MBH and a plc is a logical and exciting next move for us. We are operating in an important area that has had further light thrown on it from the ongoing global pandemic situation. Becoming part of the MBH Corporation should allow us to be even more successful in winning important contracts with healthcare establishments”.
Callum Laing, CEO at MBH Corporation, said: “Not only am I pleased to welcome such a successful company as Approved Air to the MBH Corporation, but it’s also particularly satisfying to welcome a company that is involved in such important work to support healthcare establishments across the UK. David and Caroline Williams and their team have an exciting future ahead”.
