12th Aug 2019 11:25
(Alliance News) - Support services firm Marlowe PLC said Monday it acquired safety consultancy firm Quantum Risk Management Ltd for up to GBP7.2 million.
Marlowe will pay an initial GBP4.0 million with a further GBP3.2 million paid as contingent consideration on the achievement of unspecified targets. The firm will fund the deal using existing cash and debt facilities.
Quantum delivers health & safety consultancy services to the commercial property sector in the UK. For the year ended June 2018, Quantum generated GBP500,000 in pretax profit on revenue of GBP4.5 million.
For the year ended March, Marlowe generated GBP2.0 million in pretax profit on revenue of GBP128.5 million.
"Following our recent acquisition of William Martin, the addition of Quantum to the group further strengthens Marlowe's leading position in the property-related health, safety and compliance sector and enhances our ability to provide an end-to-end solution for our customers' safety and regulatory compliance needs", Marlowe Chief Executive Officer Alex Dacre said.
In December, Marlowe bought property-focused health & safety audit and consultancy firm William Martin for GBP30 million.
Shares in Marlowe were 0.1% higher at 451.60 pence in London on Monday.
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