A Cardiff-headquartered asbestos inspection and testing company, Santia, has been acquired by Marlowe PLC for £4.5m.
Santia provides asbestos and construction design management services to its customers across a broad range of sectors, the management team has been in the industry for circa 60 years, with the business employing 120 staff.
Private shareholders Craig Jones, Liam McLoughlin and Alexis Vranch wanted to develop and grow Santia to the advantage of all stakeholders, particularly its customers and employees. The business has grown and built a strong reputation since it was bought in a management buy-out in 2018.
Managing director Craig Jones said:
“We were delighted that Marlowe PLC expressed an interest in Santia. The last 18 months have been incredibly challenging for many of our employees, customers and suppliers, and providing long term security to our valued staff was at the forefront of our decision-making process”.
For the year ended 31 December 2019, Santia generated an adjusted EBITDA of £800,000 with revenues of £10.6m.
Mr Jones added:
“Having successfully secured a number of new contracts in addition to developing a multi service offering, the group of companies within Marlowe provide both resources and expertise to enable Santia to grow to its true potential.”
Cenkos Securities is Marlowe’s nominated adviser and joint broker. Santia was advised by corporate finance advisory business, the GS Verde Group.
Speaking on the deal, Leanne Thomas, Director:
“We were delighted to advise Santia on this deal. As a long-standing client of the Group, it is always a pleasure to work with the management team, and we wish all parties the very best for the future”.