Marlowe Buys Flamefast Fire Systems For GBP1.0 Million In Cash

27th Mar 2018 13:24

LONDON (Alliance News) - Marlowe PLC said on Tuesday it has acquired fire suppression systems firm Flamefast Fire Systems Ltd for GBP1.0 million in a single upfront cash payment.

The AIM-listed business management consultant said it will fund the purchase from existing cash resources, and also said "key" members of Flamefast's operational management team will be staying with the business.

Marlowe said Flamefast will form part of its Fire Protection & Security Systems division and will offer complementary services to its Air Hygiene business.

For the year to the end of November, Flamefast generated revenue of GBP5.1 million and posted pretax profit of GBP100,000.

Shares in Marlowe were trading 2.3% higher at 402.00 pence per share on Tuesday.

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