COVID-19 decontamination business acquired for £7m
East Anglia law firm Birketts has advised on the acquisition of DCUK FM, a leading asbestos removal business, from Marlowe plc for a sum of £7 million.
DCUK FM, based in Welwyn, is a nationwide contractor specialising in asbestos removal and also COVID-19 cleaning and contamination services.
Employing over 360 staff and carrying out work nationally as well as internationally since 2015, DCUK FM has won a number of health and safety awards for its quality and professionalism.
As part of the transaction Marlowe plc retains DCUK FM’s ventilation hygiene and compliance business within its Air Testing & Quality division.
The transaction was led for Birketts by Nick Burt with support from Claire Hunt, Kathryn Palmer and Lisa Gray (Corporate), Isabel Wightman-Cooper (Commercial Property) and John Kahn (Tax).
Nigel Jones, principal shareholder of DCUK FM Holdings Limited, the purchaser, commented: “I am hugely grateful for all the hard work Birketts has put in to bringing this transaction to a successful conclusion.
“DCUK FM will continue its ground-breaking approach to technically challenging projects within our various markets, in particular looking to deploy our services to support the vital work of NHS during the COVID-19 pandemic.”
Alex Dacre, Chief Executive of Marlowe plc, said: "Divesting of this non-core part of DCUK enhances our quality of earnings by reducing our exposure to non-recurring project related revenues in line with our strategy which is focused on recurring, non-discretionary services in regulated safety & compliance sectors."
Head of Birketts’ Corporate team, Adrian Seagers said: “Despite the uncertainty of the current climate and the particular challenges it poses, Birketts continues to conclude deals such as this one.”