Marlowe PLC Acquisition of Musketeer Services Limited (9569Z)

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RNS Number : 9569Z

Marlowe PLC

27 May 2021

27 May 2021

Marlowe plc

Acquisition of Musketeer Services 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 Musketeer Services Limited ("Musketeer"), a provider of water hygiene, treatment and compliance services, for an enterprise value of GBP3.75 million.

Founded in 1996, Musketeer is based in Surrey and employs approximately 40 staff. The acquisition provides attractive synergies with WCS Group, Marlowe's water & air hygiene platform.

For the year ended 31 March 2020, Musketeer generated an adjusted EBITDA of GBP0.7 million and a statutory profit before tax of GBP0.4 million on revenues of GBP3.3 million. Net assets at 31 March 2020 were GBP1.1 million. The acquisition will be funded from Marlowe's existing cash resources.

For further information:

 
Marlowe plc                                    www.marloweplc.com 
Alex Dacre, Chief Executive             Tel: [phone] 
Mark Adams, Group Finance Director              [e-mail] 
 
Cenkos Securities plc (Nominated Adviser 
 and Joint Broker) 
Nicholas Wells                              Tel: [phone] 
Ben Jeynes 
 
Berenberg (Joint Broker) 
Ben Wright                                       Tel: [phone] 
                                                  7800 
Mark Whitmore 
 
FTI Consulting 
Nick Hasell                                      Tel: [phone] 
                                                  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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May 27, 2021 02:00 ET (06:00 GMT)