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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 | |
---|---|---|---|---|---|---|---|---|---|---|
1.00 | 0.20% | 505.00 | 504.00 | 506.00 | 508.00 | 504.00 | 508.00 | 86,552 | 16:09:38 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 465.7M | -3.8M | -0.0393 | -128.50 | 488.71M |
TIDMMRL
RNS Number : 6449H
Marlowe PLC
07 December 2020
7 December 2020
Marlowe plc
Acquisition of Network of Staff Supporters Limited
Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that it has acquired Network of Staff Supporters Limited ("NOSS") for an initial consideration of GBP0.7 million.
NOSS, established in 1996, is headquartered in Wrexham and provides Employee Assistance Program ("EAP") services including counselling, critical incident support, mediation and wellbeing support & training to businesses nationwide. The EAP services provided by NOSS are highly complementary to Marlowe's Occupational Health and Employment Law & HR business lines.
For the year ended 30 September 2020, NOSS generated an adjusted EBITDA of GBP0.1 million on revenues of GBP0.5 million. Net assets as at that same date were GBP0.1 million. The total enterprise value is expected to be in the region of GBP0.8 million and includes a contingent cash earn-out expected to be in the region of GBP0.1 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: +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, whilst managing risk for businesses across the country. 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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(END) Dow Jones Newswires
December 07, 2020 02:00 ET (07:00 GMT)
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