Derbyshire water treatment and compliance firm sold in £1.75m deal
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Marlowe, the business services and software firm, has bought water treatment and compliance services provider Sterling Hydrotech Holdings in a deal worth £1.75m.
Founded in 1988, Sterling Hydrotech is based in Derbyshire and employs around 40 staff. The acquisition provides synergies with Marlowe’s Testing, Inspection & Certification (TIC) division.
For the year ended 31 March 2021, Sterling Hydrotech generated an operating profit of £500,000 on revenues of £4.8m. Net assets at 31 March 2021 were £1.1m. The total consideration of £1.75m comprises an upfront cash payment of £1.5m and a deferred element of £250,000. The acquisition will be funded from Marlowe’s existing cash and debt resources.