Marlowe, the business critical services and software firm, has acquired Santia Limited, a provider of environmental safety testing and consultancy services, for a consideration of up to £4.5 million.
Santia has offices in Cardiff and Nottinghamshire and employs approximately 120 staff.
Marlowe says 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.