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Marlowe acquires BTE Systems for £1.2m

By BFN News | 08:07 AM | Tuesday 29 August, 2017


Marlowe, a support services group, has acquired BTE Systems for a total enterprise value of up to £1.2 million on a debt-free, cash-free basis. BTE Systems was founded in 2001 and provides a portfolio of fire protection services, including the installation, service and maintenance of fire detection and fire suppression systems. Headquartered in Chertsey, Surrey, BTE Systems operates throughout Greater London. For the 12 months ended 31 March 2017, BTE Systems reported unaudited revenues of £1.9 million and profit before tax of £0.5 million. Unaudited net assets at 31 March 2017 were £0.6 million. The total enterprise value comprises an upfront cash consideration of £1.0 million and a cash earn-out capped at £0.2 million. At 8:07am: (LON:MRL) Marlowe PLC share price was +5p at 382.5p Story provided by StockMarketWire.com

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