LONDON (Alliance News) - Critical maintenance services provider Marlowe PLC on Friday said it has acquired London-based fire protection services firm Titan Fire & Security Ltd for up to GBP750,000.
Titan, founded in 1988 and based in Uxbridge in west London, handles installing, servicing and maintenance of fire detection and fire suppression systems.
Marlowe will pay an initial GBP450,000 to buy Titan, with two further payments of GBP150,000 apiece after six and 12 months subject to Titan meeting performance targets.
Shares in Marlowe were up 4.2% to 310.00 pence on Friday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Marlowe (MRL)