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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-10.00 | -1.94% | 506.00 | 510.00 | 514.00 | 513.00 | 510.00 | 512.00 | 148,106 | 16:35:22 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 465.7M | -3.8M | -0.0393 | -130.28 | 495.49M |
TIDMMRL
RNS Number : 2400J
Marlowe PLC
21 December 2020
21 December 2020
Marlowe plc
Acquisition of DeltaNet International 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 compliance & safety eLearning platform DeltaNet International Limited ("DeltaNet") for an initial consideration of GBP3.0 million.
DeltaNet, established in 1998, is headquartered in Loughborough and provides accredited health & safety, compliance & HR eLearning courses to companies across the UK and internationally. DeltaNet employs 36 staff, around half of whom are involved in content development and software & app design. Customers subscribe to DeltaNet's gamified and interactive courses to ensure their employees are trained in and comply with safety, HR and business compliance standards and legislation. The acquisition offers significant synergies with the Group's existing Governance, Risk and Compliance business lines, in particular Ellis Whittam and Law At Work.
For the year ended 31 December 2019, DeltaNet generated EBITDA of GBP0.5 million on revenues of GBP2.4 million. Net assets at 31 December 2019 were GBP0.5 million. The total enterprise value is expected to be in the region of GBP4.5 million and includes a deferred consideration expected to be in the region of GBP1.5 million, contingent on EBITDA growth. The acquisition will be funded from Marlowe's existing cash resources.
Alex Dacre, Chief Executive of Marlowe plc, said:
"The acquisition of DeltaNet broadens the Group's expertise in Health & Safety and Compliance and provides Marlowe with new opportunities for growth in the highly complementary eLearning market. DeltaNet will broaden the Group's service capabilities to existing customers and will offer significant synergies, particularly with Ellis Whittam and Law At Work. Deltanet brings more than 600 new customers, including international blue-chip companies, who will be able to benefit from Marlowe's business critical service and software. We are confident that this acquisition will generate attractive returns for Marlowe's shareholders."
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 Harry Hargreaves 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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December 21, 2020 02:00 ET (07:00 GMT)
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