Acquisition of HR Solutions

RNS Number : 0705O

Marlowe PLC

08 June 2022

 

08 June 2022

Marlowe plc

Acquisition of HR Solutions

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

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.

For further information:

Marlowe plc
Alex Dacre, Chief Executive		www.marloweplc.com
Adam Councell, Chief Financial Officer		Tel: [phone]
Julian Wais, Head of Investor Relations		[e-mail]
Benjamin Tucker, Investor Relations Manager
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells		Tel: [phone]
Ben Jeynes
Berenberg (Joint Broker)
Ben Wright	Tel: [phone]
Mark Whitmore
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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