The Acquisition broadens the Group’s digital proposition and further embeds Marlowe services with UK property managers and businesses, allowing these organisations to keep their premises maintained and fully compliant. The Acquisition provides strong synergies with Marlowe’s Meridian risk management compliance software and increases Marlowe’s software subscription revenue base whilst enabling Marlowe to work with clients across the software lifecycle from contractor and facility management through to ensuring the health and safety of those facilities.
Alex Dacre, Chief Executive of Marlowe plc, said:
“The acquisition of Elogbooks is the next step in our strategy to deliver integrated technology and services to enhance the compliance, safety and upkeep of our clients’ premises. Alongside Meridian, our existing software platform, the addition of Elogbooks will position us to offer our clients a complete technology-enabled contractor management, compliance and health & safety solution. The acquisition significantly expands the Group’s digital capabilities and service offering in providing our clients with visibility and control over their service providers’ performance and compliance. We see considerable scope to deploy Elogbooks’ system and technology across our existing businesses to further enhance the health, safety and compliance of our customers and look forward to the attractive returns that this acquisition will generate for Marlowe’s shareholders.”
“In addition, we are pleased to report another strong financial performance in FY20 and a year of substantial progress in developing the scale and breadth of our Group through accelerating organic growth, significant M&A, further margin enhancement and good underlying cash generation. Marlowe has further strengthened its position as the UK leader in specialist services which assure safety and regulatory compliance. Our Group is uniquely positioned in the UK to provide our customers with a comprehensive one-stop approach to their health, safety and regulatory compliance needs; from assurance, consultancy, and software, through to the full implementation of their recurring testing, inspection and compliance requirements.”
“Marlowe’s defensive qualities, strong channel to market, organic growth momentum and track record of accelerating growth through targeted M&A strongly position us to continue to gain further market share across all our business streams and to create sustainable shareholder value.”