Last checked at 8 Jun 2022 07:00
08 June 2022
Marlowe plc
Acquisition of HR Solutions
Marlowe plc ("Marlowe" or the "Group"), the leader in business-critical services and software which assure safety and regulatory compliance, announces that it has acquired Business HR Solutions (Consultancy) Limited and Business Human Resources Solutions Limited (together, "HR Solutions"), a HR and H&S compliance consultancy, for an enterprise value of £6.1 million (the "Acquisition").
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 & safety regulations. HR Solutions will integrate into Marlowe's Worknest brand, offering attractive synergies and deepening Marlowe's HR & H&S consultancy proposition.
In the year to 31 March 2022, HR Solutions generated revenues of £3.1 million and EBITDA of £0.7 million. Net assets as at 31 March 2022 were £0.8 million. The Acquisition consideration will be settled in cash and funded from Marlowe's existing cash resources.
For further information:
Marlowe plc | ||
Alex Dacre, Chief Executive | www.marloweplc.com | |
Adam Councell, Chief Financial Officer | Tel: +44 (0) 203 813 8498 | |
Julian Wais, Head of Investor Relations | IR@marloweplc.com | |
Benjamin Tucker, Investor Relations Manager | ||
Cenkos Securities plc (Nominated Adviser and Joint Broker) | ||
Nicholas Wells | Tel: +44 (0)20 7397 8900 | |
Ben Jeynes | ||
Berenberg (Joint Broker) | ||
Ben Wright | Tel: +44 (0)20 3207 7800 | |
Mark Whitmore | ||
Stifel (Joint Broker) | ||
Matthew Blawat | Tel: +44 (0)20 7710 7688 | |
Francis North | ||
FTI Consulting | ||
Nick Hasell | Tel: +44 (0)20 3727 1340 | |
Alex Le May | ||
About Marlowe plc
Marlowe is a UK leader in business-critical services and software which assure safety and regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services. It is focused on compliance software, eLearning, health & safety, employment law and HR compliance, fire safety & security, water & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides software to over 1 million users and services to over 25% of Britain's commercial premises. The Group provides customers with a single outsourced, nationwide, provider of a range of regulated compliance and safety solutions. Our customers can be found in office complexes, high streets and leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.