Marlowe PLC Acquisition of Black & Banton (8420D)
November 02 2020 - 2:00AM
UK Regulatory
TIDMMRL
RNS Number : 8420D
Marlowe PLC
02 November 2020
2 November 2020
Marlowe plc
Acquisition of Black & Banton Occupational and Physical
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 Black &
Banton Occupational and Physical Health Limited ("Black &
Banton") for an initial consideration of GBP1.1 million.
Black & Banton, established in 2001, is headquartered in
Gateshead, Tyne and Wear, and provides occupational health services
to businesses in the North of England and Scotland.
For the year ended 30 April 2020, Black & Banton generated
profit before tax of GBP0.4 million on revenues of GBP1.7 million.
Net assets at 30 April 2020 were GBP0.9 million. The total
enterprise value of up to GBP1.5 million includes a contingent cash
earn-out of up to GBP0.4 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 specialist services which assure
safety and regulatory compliance, whilst managing risk for
businesses across the country. 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.
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END
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