(Alliance News) - Marlowe PLC has acquired employment law compliance specialist Cater Leydon Millard Ltd for GBP2.3 million, it announced on Wednesday.
The London-based safety & compliance services firm said the acquisition "deepens Marlowe's employment law compliance offering" and will enable synergies with Ellis Whittam, its platform covering employment law among other areas.
The GBP2.3 million deal will comprise an upfront cash payment of GBP1.8 million and a performance related payment of around GBP500,000. The acquisition will be funded using existing cash reserves, Marlowe said.
Abingdon, England-based Cater Leydon Millard was established in 2004 and provides specialist employment law advice to companies across the UK.
In March, Marlowe raised GBP100 million in a share placing in order "to capitalise on acquisition opportunities". The Manchester-based firm said its pipeline of further acquisition opportunities "remains buoyant" and that it expects to report on further progress in the coming weeks.
Shares in Marlowe were up 1.7% at 829.92p in London on Wednesday morning.
By Will Paige; willpaige@alliancenews.com
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Marlowe (MRL)