Marlowe has acquired Hentland Ltd for a total enterprise value of up to £7.6m on a cash and debt-free basis.
Hentland provides a comprehensive portfolio of fire protection and security services to over 1,800 customers covering the leisure, logistics, healthcare, food, public service and retail sectors.
Hentland's services are highly complementary to those offered by Swift and FAFS, which Marlowe acquired in April and May this year.
Marlowe said the acquisition would:
- significantly expand the scale of the Group's Fire division, offer synergy benefits and provide additional critical mass and route density in geographical regions that are attractive to the Group;
- materially increase the customer base and recurring revenues of the enlarged Group, with the addition of large blue-chip organisations to which the Group can cross-sell other services;
- extend Marlowe's market position to one of the five largest providers of fire protection services in the UK and create an enhanced platform for further buy-and-build growth;
- immediately enhance Group earnings.