Leeds-headquartered Renew, the engineering services group supporting critical UK infrastructure, has acquired Emerald Power through its wholly owned subsidiary, Excalon, for up to £12.3m.
Emerald Power, based in Cheshire, is a specialist in overhead lines, focused on the maintenance and upgrade of electricity networks for Distribution Network Operators (DNOs) in the North West.
The acquisition expands the group’s capabilities by taking Excalon 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.
Paul Scott, CEO of Renew, said: “This acquisition represents a strong strategic fit for the Group, enabling our expansion into the rapidly growing overhead line maintenance and repair market.
“It will bolster our existing well-established position in the regulated electricity distribution sector, with Excalon, and we are now increasingly well placed to capitalise on the significant levels of investment being directed into the market in support of the government’s commitment to decarbonising the UK’s electricity grid before 2030.
“I am delighted to welcome the highly regarded Emerald Power team into the Renew family and I look forward to updating the market on the further progress made in this exciting sector in due course.”
