Marlowe PLC Acquisition of Atana Limited (5939O)
31 January 2019 - 6:00PM
UK Regulatory
TIDMMRL
RNS Number : 5939O
Marlowe PLC
31 January 2019
31 January 2019
Marlowe plc
Acquisition of Atana Limited
Marlowe plc ("Marlowe" or the "Group"), the support services
group focused on acquiring and developing companies that provide
critical inspection, testing and compliance services for commercial
properties, announces that it has acquired Atana Limited ("Atana")
for an initial consideration of GBP3.0 million ("Acquisition").
Founded in 2001, Atana is a leading provider of wastewater
treatment solutions to commercial organisations across the UK.
Atana provides recurring services which ensure compliance with
wastewater discharge regulations and reduce waste disposal costs.
Atana is headquartered in Leicestershire and employs approximately
20 staff.
For the year to 31 December 2017, Atana generated revenues of
GBP5.1 million, profit before tax of GBP0.5 million and had net
assets of GBP0.4 million. The total enterprise value will comprise
an upfront cash consideration of GBP3 million and a cash earn-out
expected to be in the region of GBP3 million and capped at GBP5
million for regulatory purposes. The achievement of the GBP3
million earn-out is dependent upon the business generating EBITDA
of GBP1.4 million in the 12-month period to 31 December 2020.
Alex Dacre, Chief Executive of Marlowe plc, said:
"The acquisition of Atana accelerates Marlowe's strategy of
broadening the capabilities of our Water division across the entire
regulated water management cycle. It enables us to provide
additional water services to our customers and strengthens our
competitive proposition and ability to cross-sell, both within and
across our operating divisions."
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
Harry Hargreaves
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 the
safety and regulatory compliance of commercial properties, 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
inspection, testing and compliance services. It is focused on
health & safety, fire safety, security, water safety, water
treatment, air quality and environmental 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 10% of Britain's commercial properties and is
increasingly attractive to customers who require a single
outsourced, nationwide, provider of a comprehensive range of
regulated safety services. Our customers can be found in most
office complexes, high streets & leisure facilities,
manufacturing plants and industrial estates, and include SMEs,
local authorities, facilities management providers, multi-site NHS
trusts and FTSE 100 companies.
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contact rns@lseg.com or visit www.rns.com.
END
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