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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 | 2.04% | 500.00 | 490.00 | 500.00 | 495.00 | 493.00 | 493.00 | 1,100,874 | 16:35:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 465.7M | -3.8M | -0.0393 | -125.95 | 479.04M |
TIDMMRL
RNS Number : 8833Y
Marlowe PLC
28 August 2018
28 August 2018
Marlowe plc
Acquisition of Suez Water Conditioning Services Limited
Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide critical testing and maintenance services, announces that it has acquired Suez Water Conditioning Services Limited and the business and assets of Marral Chemicals and Sentinel Water (together being "Suez WCS") for an enterprise value of GBP4.5 million, significantly extending the scale and breadth of the Group's activities in the UK water treatment market.
Suez WCS formed part of Ondeo Industrial Solutions UK Limited, a subsidiary of Suez Environnement Company SA ("Suez") and was established through the merger of Suez's non-industrial UK water treatment, hygiene and chemical blending activities.
Founded in 1977 and employing approximately 170 staff, Suez WCS operates nationally from its headquarters in Daventry and provides water treatment and hygiene services across a broad range of sectors. In addition, the business produces certain chemicals used in water treatment applications.
For the year to 31 December 2017, Suez WCS generated unaudited pro forma revenues of GBP13.2 million, the majority of which were contracted recurring testing and maintenance revenues, pro forma EBITDA of GBP0.7 million, EBIT of GBP0.1 million and had year-end net assets of GBP3.8 million. The consideration has been funded from the Group's existing cash resources.
Alex Dacre, Chief Executive of Marlowe plc, said:
"The acquisition of Suez WCS is a further significant step in our strategy of consolidating the UK water treatment market and strengthens our position as one of the leading players. Suez WCS broadens the scope of our water treatment activities and offers attractive synergies with our existing businesses which we are confident will drive increased returns for Marlowe's shareholders."
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
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.
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 testing & maintenance services in the UK. It is focused on fire protection, security systems, water treatment and air quality 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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August 28, 2018 02:00 ET (06:00 GMT)
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