RNS Number : 9132C
Marlowe PLC
04 October 2018
 

4 October 2018

 

Marlowe plc

 

Acquisition of Tersus Consultancy Limited

 

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide critical testing and maintenance services, announces that it has acquired Tersus Consultancy Limited ("Tersus") for an enterprise value of £3.7 million.  

 

Formed in 1986, Tersus provides testing and inspection services to a wide range of clients in both the private and public sectors, mainly focused on managing the risk of asbestos. Tersus, which employs approximately 180 staff, is headquartered in Rainham, Essex, and operates nationally from eight sites, each with its own laboratory.

 

Tersus' services are complementary to the activities carried out by Marlowe's existing Water Treatment and Air Hygiene division and will enable Marlowe to extend the health and safety and risk management services it provides to customers.

 

For the year to 31 December 2017, Tersus generated revenues of £8.1 million, the majority of which were contracted recurring testing and inspection revenues, adjusted EBITDA of £0.9 million, statutory loss before tax of £2.6 million reflecting exceptional intercompany write offs of £3.2 million and at completion had adjusted net assets of £2.1 million. The consideration has been funded from the Group's existing cash resources.

 

 

 

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

 

 

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 testing & maintenance services in the UK.  It is focused on fire protection, security systems, water treatment and air quality 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ACQFKNDNKBDBFKK