Marlowe announces acquisition of fire services firm BTE Systems

London based support services group, Marlowe announced on Tuesday that it had acquired BTE Systems for a total enterprise value of up to £1.2m on a debt-free, cash-free basis.

Founded in 2001, BTE provides a portfolio of fire protection services, including installation, service, and maintenance of fire detection and suppression systems.

For the 12 months ended 31 March, the Surrey based company reported unaudited revenues of £1.9, a pre-tax profit of £500,000 and net assets of £600,000.

Alex Dacre, chief executive of the AIM-listed Marlowe, said, "The addition of BTE Systems strengthens our leading position in fire protection in the London region and brings some attractive new customer relationships to the Group that will further broaden our base of recurring revenues."

As of 1335 BST, shares had seen a slight bump, up 1.355 to 382.50p.