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Marlowe PLC is exploring with investment bankers at Rothschild & Co about a potential division sale, which could produce about £650 million of proceeds, Sky News reported on Friday.
The software & service provider for safety and regulatory compliance, is working on a strategic review of its testing, inspection and certification division. This accounts for the lion’s share of its revenue.
For the year ended March 31, 2022, group revenue amounted to £315.9 million. Revenue from the unit alone totalled £221.7 million.
According to recent transactions in the sector, a sale of the unit could generate a valuation of up to 16 times its full year profit, amounting to an estimated £650 million.
The sale would only happen, however, if the bidders met the board’s expectations.
https://news.sky.com/story/lord-ashcroft-backed-marlowe-tests-appetite-for-650m-inspection-arm-12903057
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