New York, Sep 19, 2012 (ABN Newswire) - Millhouse, Inc. PLC (FRA:M77), the Frankfurt listed financial assets and services group, has announced that its Chairman is buying shares in the company.
The Chairman, M. Philippe Paillart, stated from Dubai today that he is very pleased to make an investment of 20,000 shares at EUR0,500 per share as a measure of his confidence in the company and its leadership.
Millhouse, Inc. PLC intends to complete EBITDA accretive acquisitions in private banking, wealth management, investment, asset and funds management and private equity and debt markets. The positive cash flow from the acquisitions would be used for additional acquisitions as the company embarks on a rapid expansion phase in 2012-13 and for debt retirement as appropriate. The company will also be sponsoring new IPO's on the Frankfurt Stock Exchange as part of its private equity strategy.
Millhouse, Inc. PLC is building a listed international diversified funds management business. Its business is to acquire existing businesses in funds management, investment management, wealth management, and asset management across asset sectors.
The company has a standard acquisition model based on warranted forward EBITDA with the consideration payable over three years as a mix of equity and cash. Each acquisition is EBITDA positive and cash generating. http://www.millhouse.co