MARLOWE acquired by MITIE GROUP

Mitie Group PLC has completed the acquisition of 100% of Marlowe PLC. The transaction was implemented via a court-sanctioned scheme of arrangement, with Marlowe shareholders receiving 466 pence per share in a mix of cash and new Mitie shares (via a Mix and Match facility). The deal followed a significant 2024 restructuring at Marlowe, which saw the divestment of its GRC business for £430 million, allowing the group to return to profitability and eliminate nearly all net debt (£1M vs £203M) prior to the merger. The strategic rationale for Mitie is the creation of a UK powerhouse in Facilities Compliance. By integrating Marlowe’s 2,700 specialists, Mitie becomes the nation’s largest provider of fire safety, security, and water hygiene services. The combination is highly complementary: Marlowe’s maintenance-heavy delivery model (75%) balances Mitie’s project-led approach, providing a stable, recurring revenue stream. The transaction received final court sanction on July 31, 2024, and marks a major milestone in Mitie's shift toward high-performing, compliant building infrastructure.