Marlowe PLC Acquisition of Alarm Communication Limited (2757A)
June 01 2021 - 2:00AM
UK Regulatory
TIDMMRL
RNS Number : 2757A
Marlowe PLC
01 June 2021
1 June 2021
Marlowe plc
Acquisition of Alarm Communication Limited ("ACL")
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 ACL, a
provider of fire safety and security services, for an enterprise
value of up to GBP7.3 million.
Founded in 1984, ACL is based in Surrey and employs
approximately 80 staff. The acquisition provides attractive
synergies with Marlowe's testing, inspection and certification
activities.
For the year ended 30 April 2020, ACL generated a profit before
tax adjusted for non-recurring shareholder costs of GBP1.2 million
and a statutory profit before tax of GBP0.6 million on revenues of
GBP10.7 million. Net assets at 30 April 2020 were GBP0.8 million.
The total enterprise value will comprise an upfront cash
consideration of GBP6.0 million in addition to performance-related
contingent consideration of up to approximately GBP1.3 million
following the first year of ownership. The acquisition will be
funded from Marlowe's existing cash resources.
Alex Dacre, Chief Executive of Marlowe plc, said:
"The acquisition of ACL marks another significant milestone in
the development of our fire safety & security strategy.
Following Marlowe's first acquistion of Fire & Security Group
in 2016, a number of bolt-on acquisitions and strong organic
growth, our fire safety & security business now generates
run-rate revenue of over GBP100 million. We look forward to the
contribution that ACL will make to our continued growth in this
market."
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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