Swift are delighted to announce, the completion of the acquisition of Swift Fire & Security Group by Marlowe PLC and Marlowe PLC’s admission to the London Stock Exchange with effect from 09.00, 1st April 2016.
Selected from over 48 targets across 6 diverse sectors, Swift Fire & Security is now the platform for an ambitious buy and build strategy which will involve the acquisition of suitable, complimentary businesses within the specialist fire life safety and security industry. The plan is to propel Swift Fire & Security to the forefront of our industry within the next few years.
Swift Fire & Security will continue to operate as normal with the same established Senior Management Team and Operational Infrastructure, with our people and customers completely unaffected by the merger other than the strength and opportunities it provides to all us.
Nigel Jackson, Managing Director of Swift Fire & Security commented: “Today I would like to thank each member of our loyal team at Swift Fire & Security for their support throughout this transaction. After establishing the business over 34 years ago this was not a decision I made lightly. I must also thank the Board of Marlowe. I have long felt that the greatest asset of Swift Fire & Security is its People and I could not have proceeded with this partnership had my fellow Marlowe Board Directors not felt the same. The merger today not only secures the future and growth of the Swift business but also provides all team members with fantastic career progression opportunities. This plan is all about delivering more growth and building an even better business than would be possible if we were to remain an independent private company.
Today, the 1st day of trading, shares in Marlowe Plc have traded at the London Stock Exchange at 150p, a premium of 50% to the placing price of £1 per share. A great start for all our investors and people! This demonstrates the confidence that the City has in the next chapter of Swift Fire & Security.”