Marlowe plc acquired International Management Systems Marketing Ltd. for an enterprise value of £17.4 million.
July 26, 2023
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Marlowe plc (AIM:MRL) acquired International Management Systems Marketing Ltd. for an enterprise value of £17.4 million on July 26, 2023. The total enterprise value will comprise an upfront cash consideration of £12.9 million and a further £3 million payment through the issue of 597,609 ordinary shares of 50 pence each in the capital of the Company ("Consideration Shares") in addition to an estimated £1.5 million in performance-related contingent consideration payable after the first year of ownership. The Consideration Shares are being issued to the vendor and are locked in for a period of two years. For FY ended 2022, IMSM generated revenues of £12.2 million and EBITDA of £1.9 million. Cenkos Securities plc acted as nominated advisor and joint broker, Stifel and Berenberg acted as joint brokers and FTI Consulting acted as adviser to Marlowe in this transaction.
Marlowe plc (AIM:MRL) completed the acquisition of International Management Systems Marketing Ltd. on July 26, 2023.
Marlowe plc is engaged in business-critical services and software, which assure regulatory compliance. Its segments include Governance, Risk & Compliance (GRC) and Testing, Inspection & Certification (TIC). GRC encompasses its consulting and software solutions across compliance software and eLearning, health and safety, employment law and human resource, and occupational health. Its service in TIC revolves around its clientsâ business premises compliant. Its services address compliance requirements across fire safety & security and water & air hygiene. Its fire safety and security services provide its clients with a comprehensive range of safety and compliance services to ensure premises are maintained in accordance with building safety regulations. Its software compliance platforms are used to implement governance frameworks and manage and monitor audit and control risk. It also provides ISO auditing and certification services to over 5,000 United Kingdom and international clients.