13th Oct 2025 11:35
Renew Holdings PLC - Leeds, England-based engineering services group - Wholly-owned subsidiary Excalon Holdings Ltd acquires Cheshire, England-based overhead lines specialist Emerald Power Ltd for up to GBP12.3 million total consideration. Says Emerald is focused on the maintenance and upgrade of northwestern distribution network operators' electricity networks, and acquiring it enables Exalon's expansion into "the fast-growing overhead line maintenance and repair market across voltages ranging from 11kV to 132kV". "Emerald's expertise and established relationships will strengthen the Group's position in the regulated electricity distribution sector, " Renew says. Consideration comprises an initial GBP7.8 million, funding from its existing banking facilities. The remaining GBP4.5 million is conditional upon "the vendors remaining with the business and specific profit targets being achieved". Renew says the transaction will be immediately earnings-enhancing, and that it continues to have a strong balance sheet and to evaluate a pipeline of further acquisitions. Read More