Acquisition of Advance Environmental Limited

RNS Number : 2642I

Marlowe PLC

16 June 2017

 

16 June 2017

Marlowe plc

Acquisition of Advance Environmental Limited

Marlowe plc ("Marlowe" or the "Company"), the support services group focused on acquiring and developing companies that provide critical asset maintenance services, announces that it has acquired Advance Environmental Limited ("Advance Environmental"), a provider of water treatment and hygiene services based in Brackley, Northamptonshire.

Founded in 1997, Advance Environmental employs 40 people and services over 100 customers with a strong focus on healthcare alongside a range of other sectors such as education and leisure.

Advance Environmental is being purchased for £1.9 million on a debt-free, cash-free basis. For the 12 months to 31 September 2016, Advance Environmental reported revenue of £2.5 million, EBITDA of £0.5 million and net assets of £1.0 million. The transaction will be funded using Marlowe's existing cash and debt resources.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
	[e-mail]
Cenkos Securities plc (Nominated Adviser and Broker)
Nicholas Wells	Tel: [phone]
Elizabeth Bowman
FTI Consulting
Nick Hasell	Tel: [phone]
Alex Le May

About Marlowe plc

Marlowe is an AIM-listed company formed to create sustainable shareholder value through the acquisition and development of businesses that provide critical asset maintenance services in the UK.  It is focused on fire protection, security systems and water treatment services - which are essential to its customers' operations and invariably governed by regulation, and where customers require a single specialist outsourced provider with nationwide coverage. Our customers can be found on most high streets, in office complexes and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

 

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