Marlowe PLC Acquisition of HR Solutions (0705O)

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RNS Number : 0705O

Marlowe PLC

08 June 2022

08 June 2022

Marlowe plc

Acquisition of HR Solutions

Marlowe plc ("Marlowe" or the "Group"), the leader in business-critical services and software which assure safety and regulatory compliance, announces that it has acquired Business HR Solutions (Consultancy) Limited and Business Human Resources Solutions Limited (together, "HR Solutions"), a HR and H&S compliance consultancy, for an enterprise value of GBP6.1 million (the "Acquisition").

Headquartered in Kettering and established in 2001, HR Solutions provides retained HR and H&S consulting to approximately 750 customers, helping to keep them compliant with employment law and health & safety regulations. HR Solutions will integrate into Marlowe's Worknest brand, offering attractive synergies and deepening Marlowe's HR & H&S consultancy proposition.

In the year to 31 March 2022, HR Solutions generated revenues of GBP3.1 million and EBITDA of GBP0.7 million. Net assets as at 31 March 2022 were GBP0.8 million. The Acquisition consideration will be settled in cash and funded from Marlowe's existing cash resources.

For further information:

 
Marlowe plc 
Alex Dacre, Chief Executive                           www.marloweplc.com 
Adam Councell, Chief Financial                 Tel: [phone] 
 Officer 
Julian Wais, Head of Investor Relations                [e-mail] 
Benjamin Tucker, Investor Relations 
 Manager 
 
Cenkos Securities plc (Nominated Adviser and Joint Broker) 
Nicholas Wells                                  Tel: [phone] 
Ben Jeynes 
 
Berenberg (Joint Broker) 
Ben Wright                                      Tel: [phone] 
Mark Whitmore 
 
Stifel (Joint Broker) 
Matthew Blawat                                  Tel: [phone] 
Francis North 
 
FTI Consulting 
Nick Hasell                                     Tel: [phone] 
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 compliance software, eLearning, health & safety, employment law and HR compliance, fire safety & security, water & 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 software to over 1 million users and services to over 25% of Britain's commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions. Our customers can be found in office complexes, high streets and 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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June 08, 2022 02:01 ET (06:01 GMT)