LONDON, UK: Marlowe plc has acquired Skill Boosters, incorporated as Inclusive Learning Limited (Skill Boosters), a leading equality, diversity and inclusion eLearning provider, for an initial consideration of £5.5m with a growth-based contingent consideration expected to be c.£2.5m.
Skill Boosters, established in 1999, is based in Kent and provides equality, diversity, workplace behaviour and compliance eLearning courses to companies across the UK and internationally. Skill Boosters serves c.200 clients, with more than 95% of its revenue being generated from subscription licenses.
The acquisition of Skill Boosters will offer attractive cross-sell and technology synergies with Marlowe’s compliance software activities, of which eLearning forms a key part. It will integrate into the Group’s VinciWorks brand, broadening its eLearning solution into the fast-growth markets of diversity & inclusion and workplace behaviour training.
For the year ended 31 July 2021, Skill Boosters generated an operating profit of £0.7 million on revenues of £1.4 million. Net assets at 31 August 2021 were £0.9 million. The acquisition will be funded from Marlowe’s existing cash resources.
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.