RNS Number : 5583N
Marlowe PLC
21 January 2019
 

21 January 2019

 

Marlowe plc

 

Disposal of non-core assets

 

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide regulated inspection, testing and compliance services, announces that is has sold certain non-core assets for a cash consideration of £2.3 million.

 

The assets comprise two contracts to produce specialist chemical products with applications in healthcare and clinical disinfection that were acquired as part of the Group's £4.5 million acquisition of Suez Water Conditioning Services Limited as announced on 28 August 2018.

 

In the year ended 31 December 2017 the two contracts generated unaudited revenues of £0.6 million and an estimated gross profit contribution of £0.2 million. The proceeds of the sale will be used for general corporate purposes.

 

 

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 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 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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