Marlowe plc said on Tuesday it acquired Glasgow-based Law At Work (Holdings) Limited for an initial consideration of £6.3 million.
Law At Work is a provider of subscription-based employment law compliance and health and safety services.
Law At Work employs 70 staff, more than half of whom are employment lawyers, HR compliance professionals and health and safety consultants, whose advice and consultancy ensures that commercial organisations remain compliant with employment law and health and safety legislation.
For the year to May 31, 2019, Law At Work generated revenues of £5.4 million, EBITDA of £1.2 million and profit before tax of £1 million.
The total enterprise value of the deal will comprise an initial cash consideration of £6.3 million and a contingent consideration which is expected to be £4 million over three years dependent on the achievement of profit targets.
Marlowe plc CEO Alex Dacre said: “By acquiring Law at Work, a business which helps clients to mitigate their employee-related risk and assure their health & safety performance, we are both strengthening Marlowe’s leading health and safety operation and significantly advancing our capabilities to work with clients across the full spectrum of their compliance needs.
“The business, which delivers subscription-based consultancy services, operates nationally in an attractive and underserved market in which we see significant growth opportunities.
“The acquisition is a major step in strengthening our position as the UK leader in regulated compliance services to organisations of all sizes.”