Acquisitions

RNS Number : 6812U
Marlowe PLC
31 July 2020
 

31 July 2020

 

Marlowe plc

 

Acquisition of Rainbow Water Services Limited and Caritas Group Limited

 

Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that it has acquired Rainbow Water Services Limited ("Rainbow Water") and Caritas Group Limited ("Caritas").

 

Based in Kent, Rainbow Water provides water treatment and hygiene services to a broad range of customers within London and the surrounding counties. The business, which will be immediately integrated in to WCS Group, generated revenues of £1.0m and EBITDA of £0.1m in the year to 31 August 2019.

 

Based in Lincolnshire, Caritas provides occupational health services and was established in 1997. The business will be integrated in to Managed Occupational Health, the Group's occupational health operation. In the year to March 2020, Caritas generated revenues of £0.4m and EBITDA of £0.1m.

 

The total consideration for the acquisitions of Rainbow Water and Caritas, of £0.45m and £0.13m respectively, will be funded from the Group's existing cash resources.

 

 

For further information:

 

Marlowe plc

www.marloweplc.com

 

 

 

Alex Dacre, Chief Executive

Tel: +44 (0) 203 813 8498

 

 

 

Mark Adams, Group Finance Director

IR@marloweplc.com

 

 

 



 

 

 

Cenkos Securities plc (Nominated Adviser and Joint Broker)

 

 

 

Nicholas Wells

Tel: +44 (0)20 7397 8900

 

 

Ben Jeynes

 

 

 

 

Harry Hargreaves

 

 

 



 

 

 

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 specialist services which assure safety and regulatory compliance, whilst managing risk for businesses across the country. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, employment law compliance, fire safety, security, water treatment & hygiene, air quality 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 SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
ACQSDIFWSESSEEW

Companies

Marlowe (MRL)
UK 100

Latest directors dealings