Source - LSE Regulatory
RNS Number : 8379G
Marlowe PLC
30 November 2020
 

30 November 2020

 

Marlowe plc

 

Acquisition of Wrightway Health Limited

 

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 Wrightway Health Limited ("Wrightway") for an initial consideration of £3.5 million.

 

Wrightway, established in 2013, is headquartered in Norwich, and provides occupational health services to businesses in the East and South East of England.

 

For the year ended 30 April 2020, Wrightway generated an adjusted EBITDA of £0.7 million on revenues of £2.7 million. Net assets at 30 April 2020 were £0.6 million. The total enterprise value is expected to be in the region of £4.5 million and includes a twelve month contingent cash earn-out expected to be in the region of £1.0 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: +44 (0) 203 813 8498

 

 

 

Mark Adams, Group Finance Director

IR@marloweplc.com

 

 

 

 

 

 

 

 

Cenkos Securities plc (Nominated Adviser and Joint Broker)

 

 

 

Nicholas Wells

                    Tel: +44 (0)20 7397 8900

 

 

Ben Jeynes

 

 

 

 

Harry Hargreaves

 

 

 

 

 

 

 

 

Berenberg (Joint Broker)

 

 

 

Ben Wright

Tel: +44 (0)20 3207 7800

 

 

Mark Whitmore

 

 

 

 

 

 

 

FTI Consulting

 

 

 

Nick Hasell

Tel: +44 (0)20 3727 1340

 

 

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 health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & 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 services to over 15% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ACQKKCBNOBDDNDB
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.