Sat, 29 Dec 2018 | BUSINESS SALE
Marlowe, a listed support services group which conducts health and safety audits and consultancy services, has acquired William Martin Compliance Solutions Limited and Ivor Roy Limited, which both together trade as William Martin.
The acquisition was completed in a £30 million deal, for which Marlowe raised £7 million by placing 1.7 million new shares in the market to new and existing investors.
Established in 2004, William Martin operates as a health and safety consultancy specialist expressly for properties. It works alongside numerous commercial partners across the country to ensure regulatory compliance in areas such as fire and water safety, health and safety, contractor management and asbestos management.
Chief executive of Marlowe, Alex Dacre, said: "The acquisition of William Martin significantly accelerates our strategy of providing our customers with a comprehensive one-stop approach to their health & safety and regulatory compliance needs.
"William Martin is a market leader which shares a similar channel to market with our existing businesses and benefits from strong relationships with customers who place a high value on the consultancy and software services. We are confident that this acquisition will generate attractive returns for Marlowe's shareholders."
David and Ellen Wilson, shareholders of William Martin, were advised by Cooper Parry Corporate Finance.
Presently, William Martin has 100 members of staff placed in offices in London, Leeds and Norwich. The company's records indicate, in the year ending 30 April 2018, a generated revenue of £7.5 million, an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of £2.3 million and a profit before tax of £2.4 million.
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Provides reactive and preventative maintenance on domestic heating systems, supporting homeowners on behalf of their heating insurance providers.
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The opportunity exists to acquire by way of a share purchase all of the issued capital in this property maintenance and building services company (“the Business”).
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