Marlowe PLC Acquisition of Titan Fire and Security Limited (2994O)
04 November 2016 - 6:00PM
UK Regulatory
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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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