7 September 2021

Marlowe plc

Acquisition of Santia Limited

Marlowe plc ("Marlowe" or the "Group"), the UK leader in business critical services and software which assure safety and regulatory compliance, announces that it has acquired Santia Limited ("Santia"), a provider of environmental safety testing and consultancy services, for a consideration of up to £4.5 million.

Santia is based in Cardiff and employs approximately 120 staff. The acquisition provides attractive synergies with WCS Group, Marlowe's water & air hygiene platform.

For the year ended 31 December 2019, Santia generated an adjusted EBITDA of £0.8 million on revenues of £10.6 million. Net assets at 31 December 2019 were £0.4 million. The acquisition consideration of an initial £4.3 million and subsequent deferred consideration of £0.2 million to be paid subject to achievement of integration objectives will be settled in cash and funded from Marlowe's existing cash resources.

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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.