Acquisition of Quantum Compliance

RNS Number : 6242I

Marlowe PLC

12 August 2019

 

12 August 2019

Marlowe plc

Acquisition of Quantum Compliance

Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that it has acquired Quantum Compliance ("Quantum"), incorporated as Quantum Risk Management Limited, for an initial consideration of £4.0 million.

Founded in 2003, Quantum is a leading provider of health and safety consultancy services to commercial organisations across the UK. Quantum conducts health & safety audit and consultancy services for approximately 8,000 commercial properties each year, providing specialist advice on managing health and safety risks and ensuring compliance with a wide variety of health & safety regulations.

For the year to 30 June 2018, Quantum generated revenues of £4.5 million and statutory profit before tax of £0.5 million. At 30 June 2018, Quantum had net assets of £1.0 million. Quantum's revenues grew at a compound rate of 18% between 2016 and 2018. The total enterprise value will comprise an upfront cash consideration of £4.0 million and contingent consideration of up to £3.2 million on the achievement of certain targets. The acquisition will be funded from existing cash and debt facilities.

Alex Dacre, Chief Executive of Marlowe plc, said:

"Following our recent acquisition of William Martin, the addition of Quantum to the Group further strengthens Marlowe's leading position in the property-related health, safety and compliance sector and enhances our ability to provide an end-to-end solution for our customers' safety and regulatory compliance needs."

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Mark Adams, Group Finance Director	[e-mail]
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells	Tel: [phone]
Ben Jeynes
Harry Hargreaves
Berenberg (Joint Broker)
Ben Wright	Tel: [phone]
Mark Whitmore
FTI Consulting
Nick Hasell	Tel: [phone]
Alex Le May

About Marlowe plc

Marlowe is a UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, 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, fire safety, security, water safety, water treatment, air quality and environmental 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 10% of Britain's commercial properties and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

 

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