Marlowe PLC Acquisition of IMSM (1727H)
26 Julio 2023 - 1:00AM
UK Regulatory
TIDMMRL
RNS Number : 1727H
Marlowe PLC
26 July 2023
26 July 2023
Marlowe plc
Acquisition of IMSM
Marlowe plc ("Marlowe" or the "Group"), the leader in
business-critical services and software which assure regulatory
compliance, announces that it has acquired IMSM Holdings Limited
and International Management Systems Marketing Limited (together,
"IMSM"), a leading ISO certification and quality management
provider, for an expected enterprise value of GBP17.4 million (the
"Acquisition").
Established in 2004 and headquartered in Wiltshire, UK, IMSM
provides ISO auditing and certification services to approximately
5,000 UK and international clients. This acquisition is a key step
in Marlowe's strategy to broaden its GRC capabilities into the
highly complementary ISO certification market and presents an
attractive opportunity to cross-sell into the Group's existing
customer base. Additionally, there are opportunities to digitalise
IMSM's services via collaboration with Marlowe's SaaS offering.
IMSM audits the quality of clients' business processes and
internal systems on a recurring basis to ensure compliance with ISO
standards in areas such as safety management, information security
and environmental management. IMSM provides these services to both
SMEs and larger clients on a mix of annual and multi-year
contracts, and shares a similar client base to Marlowe's GRC
division.
In the year to 31 December 2022, IMSM generated revenues of
GBP12.2 million and EBITDA of GBP1.9 million. As at 31 July 2022,
IMSM had net assets of GBP6.7 million. The total enterprise value
will comprise an upfront cash consideration of GBP12.9 million and
a further GBP3.0 million payment through the issue of 597,609
ordinary shares of 50 pence each in the capital of the Company
("Consideration Shares") in addition to an estimated GBP1.5 million
in performance-related contingent consideration payable after the
first year of ownership. The Consideration Shares are being issued
to the vendor, and are locked in for a period of two years.
Alex Dacre, Chief Executive of Marlowe plc, said:
" The acquisition of IMSM broadens the capabilities of our
Governance Risk and Compliance division into the attractive and
highly complementary ISO auditing and certification market. This is
a large and fragmented market, and the addition of IMSM will enable
us to address a core component of our clients' compliance
requirements. This acquisition is consistent with our strategy to
selectively execute on bolt-on acquisitions whilst maintaining
leverage in the region of 2x EBITDA, within the Board's guided
range."
For further information:
Marlowe plc
Alex Dacre, Chief Executive www.marloweplc.com
Adam Councell, Chief Financial Tel: +44 (0) 203 813 8498
Officer
Benjamin Tucker, Investor Relations
Manager
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Ben Jeynes Tel: +44 (0)20 7397 8900
George Lawson
Berenberg (Joint Broker)
Ben Wright Tel: +44 (0)20 3207 7800
Mark Whitmore
Stifel (Joint Broker)
Matthew Blawat Tel: +44 (0)20 7710 7688
Francis North
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727 1340
Alex Le May
About Marlowe plc
Marlowe is a leader in business-critical services and software
which assure 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 and software. It is focused on compliance
software, eLearning, health & safety, employment law & HR
compliance, fire safety & security, water & 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 software to over 1
million users and services to over 25% of Britain's commercial
premises. The Group provides customers with a single outsourced,
nationwide, provider of a range of regulated compliance and safety
solutions. Our customers can be found in 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.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQRAMRTMTATBFJ
(END) Dow Jones Newswires
July 26, 2023 02:00 ET (06:00 GMT)
Marlowe (LSE:MRL)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Marlowe (LSE:MRL)
Gráfica de Acción Histórica
De May 2023 a May 2024