Acquisition of Alarm Communication Limited

RNS Number : 2757A
Marlowe PLC
01 June 2021
 

1 June 2021

 

Marlowe plc

 

Acquisition of Alarm Communication Limited ("ACL")

 

Marlowe plc ("Marlowe" or the "Group"), the UK leader in business critical services and software which assure safety and regulatory compliance, announces that it 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."

 

For further information:

 

Marlowe plc

www.marloweplc.com

 

 

 

Alex Dacre, Chief Executive

Tel: +44 (0) 203 813 8498

 

 

 

Mark Adams, Group Finance Director

IR@marloweplc.com

 

 

 



 

 

 

Cenkos Securities plc (Nominated Adviser and Joint Broker)

 

 

 

Nicholas Wells

Tel: +44 (0)20 7397 8900

 

 

Ben Jeynes

 

 

 

 



 

 

 

Berenberg (Joint Broker)

 

 

 

Ben Wright

Tel: +44 (0)20 3207 7800

 

 

Mark Whitmore


 

 



 

 

FTI Consulting


 

 

Nick Hasell

Tel: +44 (0)20 3727 1340

 

 

Alex Le May


 

 

 

 

About Marlowe plc

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.

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