Marlowe acquires Griffin Fire in £0.7m deal

22nd Mar 2022 12:10

(Sharecast News) - Business and regulatory software and services provider Marlowe has acquired Griffin Fire for an enterprise value of £0.7m, it announced on Tuesday.

The AIM-traded firm said Griffin Fire, incorporated as Griffin and General Fire Services, provides fire safety services.

For the year ended 31 December 2020, Griffin Fire generated profit before tax of £0.2m on revenue of £1.4m.

Net assets as at 31 December 2021 totalled £0.4m.

"The acquisition will be funded from Marlowe's existing cash resources," the board said in its short announcement.

At 1152 GMT, shares in Marlowe were flat at 800p.