Marlowe acquires Griffin Fire in £0.7m deal
Marlowe
490.00p
16:49 26/04/24
-2.97%
-15.00p
Business and regulatory software and services provider Marlowe has acquired Griffin Fire for an enterprise value of £0.7m, it announced on Tuesday.
FTSE AIM 100
3,637.40
17:14 26/04/24
n/a
n/a
FTSE AIM All-Share
755.28
17:14 26/04/24
n/a
n/a
Support Services
10,641.76
16:59 26/04/24
1.12%
118.01
The AIM-traded firm said Griffin Fire, incorporated as Griffin and General Fire Services, provides fire safety services.
For the year ended 31 December 2020, Griffin Fire generated profit before tax of £0.2m on revenue of £1.4m.
Net assets as at 31 December 2021 totalled £0.4m.
“The acquisition will be funded from Marlowe's existing cash resources,” the board said in its short announcement.
At 1152 GMT, shares in Marlowe were flat at 800p.