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Marlowe acquires Wrightway Health for up to £4.5m
StockMarketWire.com
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Safety company investor Marlowe said it had acquired Wrightway Health for up to £4.5 million, including debt.
Norwich-based Wrightway provided occupational health services to businesses in the East and South East of England.
Marlowe said it had paid an initial acquisition sum of £3.5 million.
The total enterprise value was expected to be in the region of £4.5 million and included a 12 month contingent cash earn-out of around £1.0 million.
For the year ended 30 April 2020, Wrightway generated an adjusted earnings before interest, tax, depreciation and amortisation of £0.7 million on revenues of £2.7 million.
Story provided by StockMarketWire.com
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