Marlowe, a leader in business-critical services and software which assure safety and regulatory compliance, has acquired Business HR Solutions (Consultancy) Limited and Business Human Resources Solutions Limited (together, “HR Solutions”), a HR and H&S compliance consultancy, for an enterprise value of £6.1 million.
Headquartered in Kettering and established in 2001, HR Solutions provides retained HR and H&S consulting to approximately 750 customers, helping to keep them compliant with employment law and health & safety regulations.
HR Solutions will integrate into Marlowe’s Worknest brand, offering attractive synergies and deepening Marlowe’s HR & H&S consultancy proposition.
In the year to 31 March 2022, HR Solutions generated revenues of £3.1 million and EBITDA of £0.7 million. Net assets as at 31 March 2022 were £0.8 million.
The acquisition consideration will be settled in cash and funded from Marlowe’s existing cash resources.
Gavin Snell, CEO at WorkNest, said: “We’re excited to welcome HR Solutions’ clients and all of our new colleagues into the WorkNest family. We share the same focus on employee engagement and high quality client support, and WorkNest has a strong track record of bringing such like-minded businesses together with positive outcomes.
“HR Solutions’ continued client service delivery is the priority, but in the coming months, we will work on synergies and opportunities across the businesses.”
Greg Guilford, CEO at HR Solutions, said: “Over the past few years we have been growing very quickly. This has been led by the great commitment our team has to our client base, their continued professionalism, as well as several acquisitions HR Solutions has made along the way.
“We are excited at this development in joining WorkNest as this will further strengthen our service and bring considerable benefits to our clients through the scale and breadth of services offered by the wider group.”
