Fire systems provider bought by stock market group

A Birmingham provider of fire safety systems and training has been bought by stock market group Marlowe.

The acquisitive support services group has agreed a £1.1m deal for Island Fire Protection. Marlowe will pay £0.9m in cash, with a further £0.2m cash payment dependent on performance.

Island Fire was founded in 1991 and has a national customer base, installing and maintaining fire extinguishers.

In its last completed trading year, in the year to April 2017, Island Fire generated pre-tax profits of £0.3m on revenues of £2.1m.

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