Marlowe PLC Acquisition of Musketeer Services Limited (9569Z)
May 27 2021 - 2:00AM
UK Regulatory
TIDMMRL
RNS Number : 9569Z
Marlowe PLC
27 May 2021
27 May 2021
Marlowe plc
Acquisition of Musketeer Services Limited
Marlowe plc ("Marlowe" or the "Group"), the UK leader in
business critical services and software which assure safety and
regulatory compliance, announces that it has acquired Musketeer
Services Limited ("Musketeer"), a provider of water hygiene,
treatment and compliance services, for an enterprise value of
GBP3.75 million.
Founded in 1996, Musketeer is based in Surrey and employs
approximately 40 staff. The acquisition provides attractive
synergies with WCS Group, Marlowe's water & air hygiene
platform.
For the year ended 31 March 2020, Musketeer generated an
adjusted EBITDA of GBP0.7 million and a statutory profit before tax
of GBP0.4 million on revenues of GBP3.3 million. Net assets at 31
March 2020 were GBP1.1 million. The acquisition will be funded from
Marlowe's existing cash resources.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203 813 8498
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc (Nominated Adviser
and Joint Broker)
Nicholas Wells Tel: +44 (0)20 7397 8900
Ben Jeynes
Berenberg (Joint Broker)
Ben Wright Tel: +44 (0)20 3207
7800
Mark Whitmore
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727
1340
Alex Le May
About Marlowe plc
Marlowe is a UK leader in business critical services and
software which assure safety and regulatory compliance. The company
was formed to create sustainable shareholder value through the
acquisition and development of businesses that provide regulated
safety and compliance services. It is focused on health &
safety, compliance software, employment law & HR compliance,
fire safety, security, water treatment & air hygiene and
occupational health services - all of which are vital to the
wellbeing of its customers operations and are invariably governed
by regulation. Marlowe currently provides services to over 15% of
Britain's commercial premises and is increasingly attractive to
customers who require a single outsourced, nationwide, provider of
a comprehensive range of regulated compliance and safety services.
Our customers can be found in most office complexes, high streets
& leisure facilities, manufacturing plants and industrial
estates, and include thousands of SMEs, local authorities,
facilities management providers, multi-site NHS trusts and FTSE 100
companies.
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END
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