Acquisition of Atana Limited

31 January 2019

Marlowe plc

Acquisition of Atana Limited

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide critical inspection, testing and compliance services for commercial properties, announces that it has acquired Atana Limited ("Atana") for an initial consideration of £3.0 million ("Acquisition").

Founded in 2001, Atana is a leading provider of wastewater treatment solutions to commercial organisations across the UK. Atana provides recurring services which ensure compliance with wastewater discharge regulations and reduce waste disposal costs. Atana is headquartered in Leicestershire and employs approximately 20 staff.

For the year to 31 December 2017, Atana generated revenues of £5.1 million, profit before tax of £0.5 million and had net assets of £0.4 million. The total enterprise value will comprise an upfront cash consideration of £3 million and a cash earn-out expected to be in the region of £3 million and capped at £5 million for regulatory purposes. The achievement of the £3 million earn-out is dependent upon the business generating EBITDA of £1.4 million in the 12-month period to 31 December 2020.  

Alex Dacre, Chief Executive of Marlowe plc, said:

"The acquisition of Atana accelerates Marlowe's strategy of broadening the capabilities of our Water division across the entire regulated water management cycle. It enables us to provide additional water services to our customers and strengthens our competitive proposition and ability to cross-sell, both within and across our operating divisions."

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About Marlowe plc

Marlowe is a UK leader in specialist services which assure the safety and regulatory compliance of commercial properties, whilst managing risk for businesses across the country. The company was formed to create sustainable shareholder value through the acquisition and development of businesses that provide regulated inspection, testing and compliance services. It is focused on health & safety, fire safety, security, water safety, water treatment, air quality and environmental 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 10% of Britain's commercial properties and is increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated safety services. Our customers can be found in most office complexes, high streets & leisure facilities, manufacturing plants and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.