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Wiltshire certification and quality management provider acquired for 拢17.4 million

Marlow, a business-critical services and software firm has purchased IMSM Holdings and International Systems Marketing - together IMSM

Wiltshire-based certification and quality management provider has been acquired in a 拢17.4m deal(Image: Getty Images/iStockphoto)

A Wiltshire-based certification and quality management provider has been acquired in a £17.4m deal.

Marlowe, a provider of business-critical services and software which assure regulatory compliance, has bought IMSM Holdings Limited and International Management Systems Marketing Limited.

Established in 2004 and headquartered in Malmesbury IMSM provides ISO auditing and certification services to approximately 5,000 海角视频 and international clients.

Marlowe said that the purchase of IMSM would be a "key step" in its strategy to broaden its GRC capabilities into the ISO certification market and "presents" an opportunity to cross-sell into the group's existing customer base. Additionally, the listed firm said there are opportunities to digitalise IMSM's services via collaboration with Marlowe's SaaS offering.

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IMSM audits the quality of clients' business processes and internal systems on a recurring basis to ensure compliance with ISO standards in areas such as safety management, information security and environmental management.

In the year to December 31 2022, IMSM generated revenues of £12.2m and EBITDA of £1.9m. The total enterprise value will comprise an upfront cash consideration of £12.9m and a further £3.0m payment through the issue of 597,609 ordinary shares of 50p each in the capital of the company in addition to an estimated £1.5m in performance-related contingent consideration payable after the first year of ownership.

Alex Dacre, chief executive of Marlowe plc, said: "The acquisition of IMSM broadens the capabilities of our Governance Risk and Compliance division into the attractive and highly complementary ISO auditing and certification market.