Published: 00:00, 30 October 2017 |
Updated: 10:43, 30 October 2017
A fire protection business has been acquired by an investment company backed by Tory peer Lord Ashcroft.
Tonbridge-based dB Audio and Electronic Services has been taken over by Marlowe plc in a deal worth £200,000.
The firm, founded in 1988, is the second business of its type in the county to be bought by the London Stock Exchange-listed company this year.
In February, Marlowe paid £475,000 to take over Alpha Peerless Fire Systems in Maidstone, which designs and installs a range of safety systems and equipment.
It was attracted to electronics business dB after it generate revenues of £800,000 in the year to the end of July, giving it a pre-tax profit of £100,000.
Marlowe has bought more than a dozen firms in the “outsourced business service sector” since it was launched in 2015.
Principally funded by Lord Ashcorft, it was admitted to the junior Alternative Investment Market last year and focuses on fire protection, security systems, water treatment and air hygiene.
dB installs, services and maintains fire detection systems.
Lord Ashcroft is also the principal backer of Gusbourne wine estate in Romney Marsh.
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