A fire protection company has been taken over by an investment firm listed on the London Stock Exchange backed by Conservative peer and former party deputy chairman Lord Ashcroft.

Alpha Peerless Fire Systems, which designs and installs a range of safety systems and equipment, has been acquired by Marlowe plc for £475,000.

The company, based in Tovil Green, Maidstone, attracted interest after making revenues of £2.6 million in the year to the end of March 2016.

This gave the firm earnings before interest, taxes and other charges of £200,000 and a pre-tax profit of £30,000.

Its new owner Marlowe, which is listed on the Alternative Investment Market of the London Stock Exchange, is a cash shell whose principal backer is Lord Ashcroft.

It buys and develops “critical asset maintenance services” firms with potential.

It will acquire £1.4 million of Alpha Peerless’ recurring customer revenues, as well as £1.2 million of turnover from installation work.

Most of the Kent firm’s client base is in Greater London.

It was formed in 2000 from the merger of Alphafire Services and Peerless Maintenance Services, which had operated since 1989.