Acquisition of Alpha Peerless Fire Systems Limited

RNS Number : 1721W

Marlowe PLC

07 February 2017

 

7 February 2017

Marlowe plc

Acquisition of Alpha Peerless Fire Systems 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 Alpha Peerless Fire Systems Limited ("Alpha Peerless"), a provider of fire protection services based in Maidstone.

Alpha Peerless was founded in 2000 and provides a portfolio of fire protection services in the Greater London area, including the installation, service and maintenance of fire detection and fire suppression systems.

Alpha Peerless is being purchased for a consideration of £475,000 on a debt-free, cash-free basis. For the 12 months to 31 March 2016, Alpha Peerless reported unaudited revenues of £2.6 million, adjusted EBITDA of £0.2m, unaudited gross assets of £0.7 million and unaudited profit before tax of £0.03m. Under the transaction, Marlowe is acquiring approximately £1.4 million of Alpha Peerless' recurring customer revenues in addition to £1.2m revenue associated with installation work.

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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