Marlowe Share News (MRL)

(Sharecast News) - Safety and regulatory software and services company Marlowe has acquired ACL, a provider of fire safety and security services, for an enterprise value of up to £7.3m, it announced on Tuesday.
The AIM-traded firm said ACL, founded in 1984, is based in Surrey and employs around 80 staff.

It said the acquisition would provide "attractive synergies" with its testing, inspection and certification activities.

For the year ended 30 April 2020, ACL generated a profit before tax adjusted for non-recurring shareholder costs of £1.2m, and a statutory profit before tax of £0.6m, on revenues of £10.7m.

Net assets on that date totalled £0.8m.

Marlowe said the total enterprise value would comprise an upfront cash consideration of £6m, in addition to performance-related contingent consideration of up to around £1.3m following the first year of ownership.

The acquisition would be funded from Marlowe's existing cash resources.

"The acquisition of ACL marks another significant milestone in the development of our fire safety and security strategy," said chief executive officer Alex Dacre.

"Following Marlowe's first acquisition of Fire & Security Group in 2016, a number of bolt-on acquisitions and strong organic growth, our fire safety & security business now generates run-rate revenue of over £100m.

"We look forward to the contribution that ACL will make to our continued growth in this market."

At 1100 BST, shares in Marlowe were up 1.27% at 798p.