Acquisition of Network of Staff Supporters Limited

7 December 2020

Marlowe plc

Acquisition of Network of Staff Supporters Limited

Marlowe plc ("Marlowe" or the "Group"), the specialist services group focused on developing companies which assure safety and regulatory compliance, announces that it has acquired Network of Staff Supporters Limited ("NOSS") for an initial consideration of £0.7 million.

NOSS, established in 1996, is headquartered in Wrexham and provides Employee Assistance Program ("EAP") services including counselling, critical incident support, mediation and wellbeing support & training to businesses nationwide. The EAP services provided by NOSS are highly complementary to Marlowe's Occupational Health and Employment Law & HR business lines.

For the year ended 30 September 2020, NOSS generated an adjusted EBITDA of £0.1 million on revenues of £0.5 million. Net assets as at that same date were £0.1 million. The total enterprise value is expected to be in the region of £0.8 million and includes a contingent cash earn-out expected to be in the region of £0.1 million. The acquisition will be 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, 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 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.