LONDON, UK: Marlowe plc has acquired water treatment and compliance services provider Sterling Hydrotech Holdings Limited for an enterprise value of £1.75 million.
Founded in 1988, Sterling Hydrotech is based in Derbyshire and employs approximately 40 staff. The acquisition provides attractive synergies with Marlowe’s Testing, Inspection & Certification (TIC) division.
For the year ended 31 March 2021, Sterling Hydrotech generated an operating profit of £0.5 million on revenues of £4.8 million. Net assets at 31 March 2021 were £1.1 million. The total consideration of £1.75 million comprises an upfront cash payment of £1.5 million and a deferred element of £0.25 million. The acquisition will be funded from Marlowe’s existing cash and debt 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 and software.
It is focused on compliance software, eLearning, health & safety, employment law & HR compliance, fire safety & security, water & 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 software to over 1 million users and services to over 25% of Britain’s commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions.
Marlowe PLC share price
908.00 GBX−18.00 (1.94%)today
6 Oct, 5:15 pm GMT+1 ·Disclaimer
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