Share Name Share Symbol Market Type Share ISIN Share Description
Marlowe 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
  +0.00p +0.00% 415.00p 410.00p 420.00p 415.00p 415.00p 415.00p 128,998 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 46.8 0.7 1.1 377.3 143.25

Marlowe PLC Acquisition of Forest Environmental

18/05/2018 12:30pm

UK Regulatory (RNS & others)


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Marlowe PLC

18 May 2018

18 May 2018

Marlowe plc

Acquisition of Forest Environmental

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired the business and assets of Forest Environmental Limited ("Forest") from its administrator for a cash consideration of GBP0.5 million.

Founded in 1993 and based in London, Forest provides environmental services and asbestos remediation to customers across the UK.

In the year to 30 June 2017, Forest recorded revenues of GBP13.1 million, profit before tax of GBP0.1 million, adjusted profit before tax of GBP0.3 million and net assets of GBP1.3 million. The Group anticipates that, in the first year of ownership, Forest's revenues will be lower than the level achieved in the year to 30 June 2017.

Following the Group's acquisition of Ductclean UK in July 2017, the acquisition of Forest's business and assets further extends the Group's leading position within the UK asbestos remediation market. Forest services a broad base of predominantly large organisations in both the private and public sectors, with a focus on transport, education, landmark public buildings and facilities management.

For further information:

 
 Marlowe plc                          www.marloweplc.com 
 
 Alex Dacre, Chief Executive          Tel: +44 (0) 203 841 
                                       6194 
 Mark Adams, Group Finance Director   IR@marloweplc.com 
 
 Cenkos Securities plc (Nominated Adviser and Broker) 
 
 Nicholas Wells                       Tel: +44 (0)20 7397 8900 
 
 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

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May 18, 2018 07:30 ET (11:30 GMT)

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