LONDON, UK: Marlowe plc has acquired Morgan Fire Protection Limited for a net consideration of £5.0 million, a news release said.
Marlowe plc is the specialist services group focused on developing companies, which assure safety and regulatory compliance.
Morgan Fire Protection, based in Hertfordshire, provides a range of fire safety services predominantly to SMEs in and around London and southeast England. Morgan Fire employs 55 staff and adds further scale and capability to Marlowe’s Fire division.
The business generated revenues of £4.3 million and adjusted EBITDA of £0.8 million in the year to 31 March 2020. It had net assets of £1.3 million as at 31 July 2020. The acquisition will be funded from Marlowe’s existing cash resources.
Marlowe is a UK leader in specialist services, 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 inspection, testing and compliance services.
It is focused on health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & hygiene, air quality 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.