Marlowe plc acquires ACL for up to £7.3 million

LONDON, UK: Marlowe plc has acquired ACL, a provider of fire safety and security services, for an enterprise value of up to £7.3 million.

Founded in 1984, ACL is based in Surrey and employs approximately 80 staff. The acquisition provides attractive synergies with Marlowe’s testing, inspection and certification activities.

For the year ended 30 April 2020, ACL generated a profit before tax adjusted for non-recurring shareholder costs of £1.2 million and a statutory profit before tax of £0.6 million on revenues of £10.7 million. Net assets at 30 April 2020 were £0.8 million.

The total enterprise value will comprise an upfront cash consideration of £6.0 million in addition to performance-related contingent consideration of up to approximately £1.3 million following the first year of ownership. The acquisition will be funded from Marlowe’s existing cash resources.

Alex Dacre, Chief Executive of Marlowe plc, said: “The acquisition of ACL marks another significant milestone in the development of our fire safety & security strategy. Following Marlowe’s first acquistion of Fire & Security Group in 2016, a number of bolt-on acquisitions and strong organic growth, our fire safety & security business now generates run-rate revenue of over £100 million. We look forward to the contribution that ACL will make to our continued growth in this market.”

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.

Marlowe PLC

786.00 GBX −2.00 (0.25%)

28 May, 5:47 pm GMT+1 · Disclaimer

LON: MRL

www.marloweplc.com

Leave a Reply

Your email address will not be published. Required fields are marked *