Marlowe PLC Acquisition of Titan Fire and Security Limited (2994O)

TIDMMRL

RNS Number : 2994O

Marlowe PLC

04 November 2016

4 November 2016

Marlowe plc

Acquisition of Titan Fire and Security Limited

Marlowe plc ("Marlowe" or the "Company"), the support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired Titan Fire and Security Limited ("Titan"), a provider of fire protection services based in Uxbridge, Greater London.

Titan was founded in 1988 and provides a portfolio of fire protection services, including the installation, service and maintenance of fire detection and fire suppression systems.

Titan is being purchased for a consideration of up to GBP750,000, comprising an initial cash consideration of GBP450,000 and two contingent earn-out payments of up to GBP150,000 after six and 12 months, subject to Titan meeting certain performance targets. Under the transaction, Marlowe is acquiring approximately GBP1.4 million of Titan's recurring customer revenues.

For further information:

 
 Marlowe plc                        www.marloweplc.com 
 Alex Dacre, Chief Executive        Tel: +44 (0) 203 
                                     813 8498 
                                    IR@marloweplc.com 
 
 Cenkos Securities plc (Nominated 
  Adviser and Broker) 
 Nicholas Wells                     Tel: +44 (0)20 7397 
                                     8900 
 Elizabeth Bowman 
 
 FTI Consulting 
 Nick Hasell                        Tel: +44 (0)20 3727 
                                     1340 
 Alex Le May

About Marlowe plc

Marlowe is an AIM-listed company formed to create sustainable shareholder value through the acquisition and development of businesses that provide critical asset maintenance services in the UK. It is focused on fire protection, security systems and water treatment services - which are essential to its customers' operations and invariably governed by regulation, and where customers require a single specialist outsourced provider with nationwide coverage. Our customers can be found on most high streets, in office complexes and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 04, 2016 03:00 ET (07:00 GMT)

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