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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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