Marlowe PLC Acquisition of Cater Leydon Millard Ltd (0151C)
16 June 2021 - 4:00PM
UK Regulatory
TIDMMRL
RNS Number : 0151C
Marlowe PLC
16 June 2021
16 June 2021
Marlowe plc
Acquisition of Cater Leydon Millard Ltd
Marlowe plc ("Marlowe" or the "Group"), the UK leader in
business-critical services and software which assure safety and
regulatory compliance, announces that it has acquired Cater Leydon
Millard Ltd ("Cater Leydon Millard"), an employment law compliance
specialist, for an enterprise value of GBP2.25 million.
Cater Leydon Millard, established in 2004, is based in Abingdon,
Oxfordshire, and provides specialist employment law advice to
companies across the UK. The acquisition deepens Marlowe's
employment law compliance offering and will offer attractive
synergies with Ellis Whittam, our leading platform in the provision
of recurring, fixed-fee HR, employment law and safety services
& software.
For the year ended 30 November 2020, Cater Leydon generated an
operating profit of GBP0.65 million on revenues of GBP1.7 million.
Net assets at 30 November 2020 were GBP0.5 million. The total
enterprise value will comprises an upfront cash consideration of
GBP1.75 million and a performance related contingent consideration
expect to be in the region of GBP0.5 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
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. 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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