Marlowe continues acquisitions spree to buy £17.2m healthcare company
Marlowe, a specialist health and safety company, this morning announced the £17.2m acquisition of occupational health company Healthwork, marking it’s twelfth acquisition this year.
The news swiftly follows Marlowe’s most recent acquisition just last week of fire safety and security service provider ACL for £7.3m.
Marlowe said acquiring Healthwork, which employs over 80 clinical professionals, would add “significant scale to Marlowe’s occupational health offering” on employee mental health, wellbeing and health surveillance.
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Marlowe has said it expected its 2021 results, with adjusted EBITDA, to exceed £28m.
Earlier in the year, the company announced a three-year strategy to reach £500m in revenue.
The company’s spree of acquisitions shows little signs of abating. In a statement Marlowe said Healthwork will be a platform for further acquisition-led growth in the space.
Marlowe chief executive, Alex Dacre, said: “Our pipeline of further earnings enhancing acquisition opportunities remains buoyant and we expect to report on further progress in the coming weeks.”
Based in Manchester, Healthwork generated operating profits of £2.6m with revenues over £10m for the year ended 31 March 2021 while Marlowe entered the occupational health market in March 2020 with the acquisition of Managed Occupational Health.