Acquisition of Griffin Fire

RNS Number : 5200F

Marlowe PLC

22 March 2022

 

22 March 2022

Marlowe plc

Acquisition of Griffin Fire

Marlowe plc ("Marlowe" or the "Group"), the leader in business critical services and software which assure regulatory compliance, announces that it has acquired Griffin Fire, incorporated as Griffin and General Fire Services Limited ("Griffin Fire"), a provider of fire safety services, for an enterprise value of £0.7 million.

For the year ended 31 December 2020, Griffin Fire generated profit before tax of £0.2 million on revenue of £1.4 million. Net assets at 31 December 2021 were £0.4 million. The acquisition will be funded from Marlowe's existing cash resources.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Adam Councell, Chief Financial Officer	[e-mail]
Julian Wais, Head of Investor Relations Benjamin Tucker, Investor Relations Manager
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells	Tel: [phone]
Ben Jeynes
Berenberg (Joint Broker)
Ben Wright Mark Whitmore	Tel: [phone]
Stifel (Joint Broker)
Matthew Blawat	Tel: [phone]
Francis North FTI Consulting
Nick Hasell	Tel: [phone]
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 compliance software, eLearning, health & safety, employment law and 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. Our customers can be found in office complexes, high streets and 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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