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Marlowe buys Guardian Water Treatment

By BFN News | 07:36 AM | Thursday 21 December, 2017

Marlowe, the support services group, has acquired Guardian Water Treatment and GPCS for up to £2.8 million on a cash and debt free basis. Founded in 2000, Guardian operates nationally from headquarters in Basildon, Essex, and employs around 90 staff. Guardian provides a portfolio of water treatment services to over 400 customers with a significant presence within the facilities management, engineering and manufacturing sectors. The acquisition of Guardian will expand the scale of Marlowe's Water Treatment & Air Hygiene division, bring synergy benefits and provide additional critical mass in the London area. For the year to 31 March 2017, Guardian reported revenues of £6.4 million, adjusted profit before tax of £0.4 million and net assets of £2 million. The total enterprise value comprises an upfront cash consideration of £2.4 million and a cash earn-out capped at £0.85 million. The acquisition will be financed from Marlowe's existing cash resources. Story provided by

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