Marlowe PLC Acquisition of Tersus Consultancy Limited (9132C)
October 04 2018 - 2:00AM
UK Regulatory
TIDMMRL
RNS Number : 9132C
Marlowe PLC
04 October 2018
4 October 2018
Marlowe plc
Acquisition of Tersus Consultancy Limited
Marlowe plc ("Marlowe" or the "Group"), the support services
group focused on acquiring and developing companies that provide
critical testing and maintenance services, announces that it has
acquired Tersus Consultancy Limited ("Tersus") for an enterprise
value of GBP3.7 million.
Formed in 1986, Tersus provides testing and inspection services
to a wide range of clients in both the private and public sectors,
mainly focused on managing the risk of asbestos. Tersus, which
employs approximately 180 staff, is headquartered in Rainham,
Essex, and operates nationally from eight sites, each with its own
laboratory.
Tersus' services are complementary to the activities carried out
by Marlowe's existing Water Treatment and Air Hygiene division and
will enable Marlowe to extend the health and safety and risk
management services it provides to customers.
For the year to 31 December 2017, Tersus generated revenues of
GBP8.1 million, the majority of which were contracted recurring
testing and inspection revenues, adjusted EBITDA of GBP0.9 million,
statutory loss before tax of GBP2.6 million reflecting exceptional
intercompany write offs of GBP3.2 million and at completion had
adjusted net assets of GBP2.1 million. The consideration has been
funded from the Group's existing cash resources.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203
841 6194
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc (Nominated Adviser and Broker)
Nicholas Wells Tel: +44 (0)20 7397
8900
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 testing & maintenance services
in the UK. It is focused on fire protection, security systems,
water treatment and air quality 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.
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END
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