Marlowe PLC - London-based software and services for safety and regulatory compliance - Buys TP Health (Holdings) Ltd for enterprise value of GBP14.9 million. Marlowe will make an upfront cash payment of GBP13.3 million from its existing cash resources, followed by an estimated GBP1.6 million in performance-related contingent consideration. Northampton, England-based TP Health provides occupational health services in the UK and will join Marlowe's Governance, Risk & Compliance division. TP Health recorded pretax profit of GBP1.0 million on GBP14.6 million in revenue in 2020. It was established in 2006 and employs about 240 people, including 130 clinical professionals.
Current stock price: 931.66 pence, up 1.4% on Tuesday
12-month change: up 17%
By Tom Budszus; tombudszus@alliancenews.com
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Marlowe (MRL)