Tuesday, October 5, 2021

News: Hydro-X acquired in multimillion pound deal


Hydro-X Group, a Rotherham-based specialist in water and air testing and Legionella risk assessments and control, has been acquired in a multimillion pound deal.

Now with a number of subsidiaries covering water treatment, air hygiene, engineering and health and safety training, the Dinnington firm has grown to be the country’s largest independent compliance company.

Marlowe plc, the UK leader in business-critical services and software which assure safety and regulatory compliance, has now announced that it has acquired the Hydro-X Group Ltd for a cash consideration of £30m.

The listed company was formed to create sustainable shareholder value through the growth and development of businesses that provide business-critical or compliance services and software.

Marlowe said that it had agreed to buy Hydro-x as it is "well-positioned in structural growth markets, providing a broad range of technical compliance services focused on water & air compliance, water treatment, fire safety and health & safety."

The business is set to be complementary to, and provides a number of attractive synergies with Marlowe's Testing, Inspection & Certification division, including cross-selling opportunities as well as a number of scale efficiencies, such as enhanced operational route density and the benefits from using Marlowe's existing sales, operational and back-office platforms.

In the year to 31 August 2021, Hydro-X generated revenue of £17.6m and an adjusted EBITDA (earnings before tax) of £3.5m, representing a 20% EBITDA margin. Hydro-X net assets as at 31 August 2021 were £5.3m.

2021, saw Hydro-X Training take on further space in Dinnington for a 10,000 sq ft classroom plus 5,000 sq ft of practical training space.

Marlow has also announced a £39m deal for VinciWorks, the UK's leading regulatory compliance eLearning and software solution.

Alex Dacre, chief executive of Marlowe plc, said: "Together, the acquisitions of VinciWorks and Hydro-X form a major step in delivering on the strategy announced at our Capital Markets Day, deepening our market share in attractive regulated TIC markets and significantly developing our digital proposition.

"Hydro-X majorly contributes to our safety and compliance services in our TIC division, offering significant synergies with WCS Group. Whether via software or services, Marlowe is committed to becoming the one-stop shop for customers' safety and regulatory compliance needs."

Hydro-X website

Images: Hydro-X


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