MRL Marlowe Plc

TIDMMRL

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 GBP475,000 on a debt-free, cash-free basis. For the 12 months to 31 March 2016, Alpha Peerless reported unaudited revenues of GBP2.6 million, adjusted EBITDA of GBP0.2m, unaudited gross assets of GBP0.7 million and unaudited profit before tax of GBP0.03m. Under the transaction, Marlowe is acquiring approximately GBP1.4 million of Alpha Peerless' recurring customer revenues in addition to GBP1.2m revenue associated with installation work.

For further information:

 
 Marlowe plc                        www.marloweplc.com 
 Alex Dacre, Chief Executive        Tel: +44 (0) 203 
                                     813 8498 
                                    IR@marloweplc.com 
 
 Cenkos Securities plc (Nominated 
  Adviser and Broker) 
 Nicholas Wells                     Tel: +44 (0)20 7397 
                                     8900 
 Elizabeth Bowman 
 
 FTI Consulting 
 Nick Hasell                        Tel: +44 (0)20 3727 
                                     1340 
 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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