MARLOWE PLC — M&A Activity 2021

Dec 20, 2021

National Storage Mechanism | Additional information

RNS Number : 1060W

Marlowe PLC

20 December 2021

20 December 2021

Marlowe plc

Acquisition of Skill Boosters

Marlowe plc ("Marlowe" or the "Group"), the UK leader in business-critical services and software which assure regulatory compliance, announces that it has acquired Skill Boosters, incorporated as Inclusive Learning Limited ("Skill Boosters"), a leading equality, diversity and inclusion eLearning provider, for an initial consideration of £5.5m with a growth-based contingent consideration expected to be c.£2.5m.

Skill Boosters, established in 1999, is based in Kent and provides equality, diversity, workplace behaviour and compliance eLearning courses to companies across the UK and internationally. Skill Boosters serves c.200 clients, with more than 95% of its revenue being generated from subscription licenses. The acquisition of Skill Boosters will offer attractive cross-sell and technology synergies with Marlowe's compliance software activities, of which eLearning forms a key part. It will integrate into the Group's VinciWorks brand, broadening its eLearning solution into the fast-growth markets of diversity & inclusion and workplace behaviour training.

For the year ended 31 July 2021, Skill Boosters generated an operating profit of £0.7 million on revenues of £1.4 million. Net assets at 31 August 2021 were £0.9 million. The acquisition will be funded from Marlowe's existing cash resources.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: +44 (0) 203 813 8498
Adam Councell, Group Finance Director	IR@marloweplc.com
Julian Wais, Head of Investor Relations
Cenkos Securities plc (Nominated Adviser and Joint Broker)
Nicholas Wells	Tel: +44 (0)20 7397 8900
Ben Jeynes
Berenberg (Joint Broker)
Ben Wright	Tel: +44 (0)20 3207 7800
Mark Whitmore
FTI Consulting
Nick Hasell	Tel: +44 (0)20 3727 1340
Alex Le May

About Marlowe plc

Marlowe is a UK leader in business critical services and software which assure safety and regulatory compliance. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated safety and compliance services. It is focused on health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & air hygiene and occupational health services - all of which are vital to the wellbeing of its customers operations and are invariably governed by regulation. Marlowe currently provides services to over 15% of Britain's commercial premises and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include thousands of SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQTRBPTMTMBBIB