The prospective acquisition of Clearwater (£11m EV) significantly strengthens Marlowe's core Water division, creating a c£75m revenue leading player in the Water Treatment & Hygiene market. The acquisition and associated restructuring costs will be funded from a £20m capital raise. Relative to existing market forecasts, earnings accretion exceeding 10% is likely by FY21E as synergies are unlocked.
22 May 2019
Cenkos: Marlowe Plc - Strategic acquisition
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Cenkos: Marlowe Plc - Strategic acquisition
Marlowe Plc (MRL:LON) | 508 0 0.0% | Mkt Cap: 491.8m
- Published:
22 May 2019 -
Author:
Peter Renton -
Pages:
7
The prospective acquisition of Clearwater (£11m EV) significantly strengthens Marlowe's core Water division, creating a c£75m revenue leading player in the Water Treatment & Hygiene market. The acquisition and associated restructuring costs will be funded from a £20m capital raise. Relative to existing market forecasts, earnings accretion exceeding 10% is likely by FY21E as synergies are unlocked.