(Sharecast News) - Business and regulatory compliance software company Marlowe has acquired Business HR Solutions Consultancy and Business Human Resources Solutions, which trade together as HR Solutions, it announced on Wednesday.
The AIM-traded firm said the purchase agreement for the human resources and health and safety compliance consultancy was for an enterprise value of £6.1m.
"Headquartered in Kettering and established in 2001, HR Solutions provides retained HR and H&S consulting to approximately 750 customers, helping to keep them compliant with employment law and health and safety regulations," the Marlowe board said in its statement.
"HR Solutions will integrate into Marlowe's Worknest brand, offering attractive synergies and deepening Marlowe's HR and H&S consultancy proposition."
In the year ended 31 March, HR Solutions generated revenue of £3.1m and EBITDA of £0.7m.
Net assets totalled £0.8m, with Marlowe confirming that the acquisition consideration was being settled in cash and funded from its existing resources.
At 1049 BST, shares in Marlowe were down 0.11% at 947p.
Reporting by Josh White at Sharecast.com.
Marlowe (MRL)