Marlowe buys Tersus Consultancy for £3.7m

4th Oct 2018 08:04

(Sharecast News) - AIM-listed support services group Marlowe has acquired testing and inspection services company Tersus Consultancy for an enterprise value of £3.7m, in deal funded from existing cash resources.Formed in 1986, Tersus provides services to a wide range of clients in both the private and public sectors, mainly focused on managing the risk of asbestos. The business, which employs around 180 staff, is headquartered in Rainham, Essex, and operates nationally from eight sites, each with its own laboratory.Marlowe said its services are complementary to the activities carried out by its existing water treatment and air hygiene division and will enable the group to extend the health and safety and risk management services it provides to customers.For the year to 31 December 2017, Tersus generated revenues of £8.1m, the majority of which were contracted recurring testing and inspection revenues, adjusted earnings before interest, taxes, depreciation and amortisation of £900,000m, and a statutory pre-tax loss of £2.6m.At 1425 BST, the shares were down 0.9% to 535.30p.