Huddersfield asbestos solutions company becomes latest firm acquired by London-based Marlowe

The news comes after a string of acquisitions by Marlowe last year, including consultancy firm Compliance Office, in May, and HR Solutions in June.

The shareholders of PCS Asbestos Consultants, based in Huddersfield, were advised on the sale by accounting and business advisory firm HURST.

Max Perry, an associate director in HURST’s corporate finance division, said: “It was a pleasure to advise the shareholders of PCS on the sale of the company to Marlowe.

“After a competitive process, this deal satisfied the requirements of all shareholders and I’m sure that Marlowe will see the benefit of PCS’s qualities throughout all areas of its business for a very long time.”

Tersus is part of the Risk and Compliance division of Marlowe Group, which also comprises businesses including Tersus Training, Eurosafe UK and SafeCare.

In its latest full year results, published in June of last year, Marlowe showed an increase in revenue of 66 per cent, up to £315.9 million from £192 million the year prior.

The firm noted this was driven by strong organic growth and the contribution from acquisitions.

In a statement given at the time of the results, Marlowe chief executive officer Alex Dacre said the firm was pleased to report a strong performance, adding: “We are delivering at pace on our vision of becoming a one-stop provider for our customers’ compliance needs.”

During the period, the firm acquired health and wellbeing company Optima Health for £135 million, and online training firm VinciWorks for £39 million.

October of 2021 also saw Marlowe acquire eLearning firm Essential Skillz for £25 million, and air and water compliance firm Hydro-x for £30 million.

In May of last year, Marlowe also announced that it had acquired Gateshead-based Saas firm Cedrec Information Systems Limited for an enterprise value of up to £3.0 million.

Marlowe’s latest annual report also noted that after adjusting for the estimated impact of the pandemic in the financial year 2021, underlying organic revenue growth was 9 per cent, representing an acceleration on previous years.

Adjusted earnings before interest taxes, depreciation, and amortisation increased 90 per cent, up to £54.4 million from £28.7 million the year prior.

The HURST team comprised Max Perry and Danielle Tierney, who provided corporate finance advice, and James Thompson, who provided tax advice.

Ryan Brown, Ceri Jones and Harpinder Nahl at Browne Jacobson provided legal advice.

PCS provides professional asbestos surveying, management and consultancy solutions throughout the UK and Ireland.