Marlowe buys Alpha Peerless Fire Systems for £475,000

7th Feb 2017 09:59

(ShareCast News) - AIM-listed Marlowe, which buys and develops support services companies, has bought Alpha Peerless Fire Systems for £475,000 on a cash and debt free basis.As part of the deal, Marlowe brought about £1.4m worth of Alpha's recurring customer revenues in addition to the £1.2m revenue related to installation work.Maidstone-based Alpha provides fire protection services in the Greater London area, including the installation, service and maintenance of fire detection and fire suppression systems.For the year to 31 March 2016, Alpha generated unaudited revenue of £2.6m, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of £200,00, pre-tax profit of £30,000 and gross assets worth £700,000.Shares in Marlowe were up 0.63% to 400p at 1133 GMT.