LONDON, UK: Marlowe plc has acquired Business HR Solutions (Consultancy) Limited and Business Human Resources Solutions Limited (together, “HR Solutions”), a HR and H&S compliance consultancy, for an enterprise value of £6.1 million.
Headquartered in Kettering and established in 2001, HR Solutions provides retained HR and H&S consulting to approximately 750 customers, helping to keep them compliant with employment law and health & safety regulations. HR Solutions will integrate into Marlowe’s Worknest brand, offering attractive synergies and deepening Marlowe’s HR & H&S consultancy proposition.
In the year to 31 March 2022, HR Solutions generated revenues of £3.1 million and EBITDA of £0.7 million. Net assets as at 31 March 2022 were £0.8 million. The Acquisition consideration will be settled in cash and 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.