Marlowe PLC Acquisition of Network of Staff Supporters Limited (6449H)
07 December 2020 - 6:00PM
UK Regulatory
TIDMMRL
RNS Number : 6449H
Marlowe PLC
07 December 2020
7 December 2020
Marlowe plc
Acquisition of Network of Staff Supporters 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 Network of
Staff Supporters Limited ("NOSS") for an initial consideration of
GBP0.7 million.
NOSS, established in 1996, is headquartered in Wrexham and
provides Employee Assistance Program ("EAP") services including
counselling, critical incident support, mediation and wellbeing
support & training to businesses nationwide. The EAP services
provided by NOSS are highly complementary to Marlowe's Occupational
Health and Employment Law & HR business lines.
For the year ended 30 September 2020, NOSS generated an adjusted
EBITDA of GBP0.1 million on revenues of GBP0.5 million. Net assets
as at that same date were GBP0.1 million. The total enterprise
value is expected to be in the region of GBP0.8 million and
includes a contingent cash earn-out expected to be in the region of
GBP0.1 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 business critical services and
software 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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