Acquisition of Skill Boosters

RNS Number : 1060W
Marlowe PLC
20 December 2021
 

20 December 2021

 

Marlowe plc

 

Acquisition of Skill Boosters

 

Marlowe plc ("Marlowe" or the "Group"), the UK leader in business-critical services and software which assure regulatory compliance, announces that it has acquired Skill Boosters, incorporated as Inclusive Learning Limited ("Skill Boosters"), a leading equality, diversity and inclusion eLearning provider, for an initial consideration of £5.5m with a growth-based contingent consideration expected to be c.£2.5m.

 

Skill Boosters, established in 1999, is based in Kent and provides equality, diversity, workplace behaviour and compliance eLearning courses to companies across the UK and internationally. Skill Boosters serves c.200 clients, with more than 95% of its revenue being generated from subscription licenses. The acquisition of Skill Boosters will offer attractive cross-sell and technology synergies with Marlowe's compliance software activities, of which eLearning forms a key part. It will integrate into the Group's VinciWorks brand, broadening its eLearning solution into the fast-growth markets of diversity & inclusion and workplace behaviour training.

 

For the year ended 31 July 2021, Skill Boosters generated an operating profit of £0.7 million on revenues of £1.4 million. Net assets at 31 August 2021 were £0.9 million. The acquisition will be funded from Marlowe's existing cash resources.

 

For further information:

 

Marlowe plc

www.marloweplc.com

 

 

 

Alex Dacre, Chief Executive

Tel: +44 (0) 203 813 8498

 

 

 

Adam Councell, Group Finance Director

IR@marloweplc.com

 

 

 

Julian Wais, Head of Investor Relations


 

 

 



 

 

 

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


 

 



 

 

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 health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & 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 services to over 15% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & 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.

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