Leicestershire-based wastewater treatment firm Atana has been bought by listed support services firm Marlowe plc for £3m.
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.”