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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marlowe Plc | LSE:MRL | London | Ordinary Share | GB00BD8SLV43 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 0.56% | 543.00 | 536.00 | 550.00 | 543.00 | 535.00 | 541.00 | 3,886 | 08:03:32 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 465.7M | -3.8M | -0.0393 | -138.17 | 525.49M |
TIDMMRL
RNS Number : 0723P
Marlowe PLC
29 August 2017
29 August 2017
Marlowe plc
Acquisition of BTE Systems Limited
Marlowe plc ("Marlowe" or the "Company"), the support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired BTE Systems Limited ("BTE Systems") for a total enterprise value of up to GBP1.2 million on a debt-free, cash-free basis.
BTE Systems was founded in 2001 and provides a portfolio of fire protection services, including the installation, service and maintenance of fire detection and fire suppression systems. Headquartered in Chertsey, Surrey, BTE Systems operates throughout Greater London.
For the 12 months ended 31 March 2017, BTE Systems reported unaudited revenues of GBP1.9 million and profit before tax of GBP0.5 million. Unaudited net assets at 31 March 2017 were GBP0.6 million. The total enterprise value comprises an upfront cash consideration of GBP1.0 million and a cash earn-out capped at GBP0.2 million.
Alex Dacre, Chief Executive of Marlowe plc, commented:
"The addition of BTE Systems strengthens our leading position in fire protection in the London region and brings some attractive new customer relationships to the Group that will further broaden our base of recurring revenues."
For further information:
Marlowe plc www.marloweplc.com Alex Dacre, Chief Executive Tel: +44 (0) 203 813 8498 IR@marloweplc.com Cenkos Securities plc (Nominated Adviser and Broker) Nicholas Wells Tel: +44 (0)20 7397 8900 Elizabeth Bowman FTI Consulting Nick Hasell Tel: +44 (0)20 3727 1340 Alex Le May
About Marlowe plc
Marlowe is an AIM-listed company formed to create sustainable shareholder value through the acquisition and development of businesses that provide critical asset maintenance services in the UK. It is focused on fire protection, security systems, water treatment and air hygiene services - which are essential to its customers' operations and invariably governed by regulation, and where customers require a single specialist outsourced provider with nationwide coverage. Our customers can be found on most high streets, in office complexes and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
August 29, 2017 02:01 ET (06:01 GMT)
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