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Marlowe buys Surrey-based water hygiene firm Musketeer
27th May 2021 13:02
(Sharecast News) - Safety and compliance software and services company Marlowe has acquired water hygiene, treatment and compliance provider Musketeer Services, it announced on Thursday, for an enterprise value of £3.75m.
The AIM-traded firm said the Surrey-based Musketeer, founded in 1996, employs about 40 staff.
For the year ended 31 March 2020, Musketeer generated adjusted EBITDA of £0.7m and a statutory profit before tax of £0.4m, on revenues of £3.3m.
Net assets at that date totalled £1.1m.
Marlowe said it would fund the acquisition from its existing cash resources.
"The acquisition provides attractive synergies with WCS Group, Marlowe's water and air hygiene platform," the board said in its statement.
At 1228 BST, shares in Marlowe were up 0.78% at 780p.
The AIM-traded firm said the Surrey-based Musketeer, founded in 1996, employs about 40 staff.
For the year ended 31 March 2020, Musketeer generated adjusted EBITDA of £0.7m and a statutory profit before tax of £0.4m, on revenues of £3.3m.
Net assets at that date totalled £1.1m.
Marlowe said it would fund the acquisition from its existing cash resources.
"The acquisition provides attractive synergies with WCS Group, Marlowe's water and air hygiene platform," the board said in its statement.
At 1228 BST, shares in Marlowe were up 0.78% at 780p.