REG - Amcomri Group PLC - Acquisition

AmcomriAnnouncement

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RNS Number : 3541Y  Amcomri Group PLC  27 March 2026

27 March 2026

 

Amcomri Group plc

("Amcomri", the "Company" or the "Group")

 

Acquisition of the National Compliance and Testing division of Enerveo
Limited, a subsidiary of SSE plc

 

Amcomri Group plc (AIM: AMCO), the "Buy, Improve, Build" UK focused,
specialist engineering services and industrial manufacturing group, is pleased
to announce that its new wholly owned subsidiary, GridCore Electrical Services
Limited ("GridCore"), has entered into a conditional business purchase
agreement ("BPA") to acquire the business and assets of the National
Compliance and Testing division of the Infrastructure Solutions business of
Enerveo Limited ("Enerveo"), a subsidiary of SSE plc, for a consideration of
£1 (the "Acquisition").

 

The Acquisition provides Amcomri with an established, UK wide specialist
electrical test and compliance operation, and opens a further significant
opportunity for the Group to expand its activities in the 'private network'
electrical-infrastructure market, a key strategic target sector.

 

The National Compliance and Testing division has an established long standing
customer base with a significant level of recurring revenue, supported by a
highly experienced operational team. The Acquisition also creates a strong
opportunity for the Group to leverage synergies with its other companies
operating in the power electrical maintenance and engineering sector.

 

Amcomri has a proven track record and extensive experience in successful
completion and subsequent growth of business and asset type transactions, most
recently with the Group's acquisition of Drurys Engineering Limited and Claro
Precision Engineering Limited, in March 2024.

 

For the year ended 31 March 2025, the National Compliance division being
acquired generated revenues of approximately £5 million (unaudited). Amcomri
will acquire net assets of approximately £1.5 million on completion for £1.

 

Completion is expected to occur on or around 31 May 2026 and is conditional on
customary conditions including the novation of material contracts to GridCore
and completion of the TUPE process (the "Conditions"). If the Conditions have
not been met or waived by GridCore (where permitted under the BPA) on or
before 31 July 2026, the BPA will terminate. ‎As part of the transaction,
Enerveo (or a member of its group) will provide customary transitional and
managed services arrangements to GridCore.

 

A further announcement will be made as appropriate.

 

Mark O'Neill, Chief Operating Officer of Amcomri, commented:

 

"We are pleased to announce our third acquisition since our admission to AIM
in December 2024. The acquisition of the business and assets from Enerveo's
National Compliance and Testing division is an opportunity to develop a key
strategic target area of the Group, as well as having the potential to broaden
our service offering into specialist electrical-infrastructure markets, as we
continue to roll out our proven 'Buy, Improve, Build' model.

 

The Acquisition and subsequent development opportunities have significant
synergy potential with other established Amcomri Embedded Engineering
businesses. We now look forward to working towards completion with the team at
National Compliance on this exciting development for the Group."

 

Enquiries:

 

 Amcomri Group plc                                               Via Walbrook
 Hugh Whitcomb, Chief Executive Officer                          Tel: +44 (0)20 7933 8780

 Mark O'Neill, Chief Operating Officer
 Siobhán Tyrrell, Chief Financial Officer

 Katy Birkin, Director of Corporate Development

 Cavendish Capital Markets Limited                               Tel: +44 (0)20 7220 0500

 Nominated adviser and broker
 Adrian Hadden/Callum Davidson/Isaac Hooper - Corporate Finance
 Michael Johnson/Jasper Berry/Andrew Burdis - Sales/Broking

 Walbrook PR Ltd                                                 Tel: +44 (0)20 7933 8780
 Tom Cooper/Nick Rome                                            amcomri@walbrookpr.com

To find out more, please visit: www.amcomrigroup.com
(http://www.amcomrigroup.com/)

 

Notes to Editors:

 

Amcomri is a "Buy, Improve, Build" group focusing on acquiring, integrating
and enhancing specialist engineering services and industrial manufacturing
businesses that provide technical services to major UK infrastructure,
transportation and energy companies and bespoke mission-critical services to a
diverse range of sectors and markets.

 

The Group currently operates through the following two divisions:

 

·   Embedded Engineering Division: provides specialist technical and
engineering services for major industrial, infrastructure and transportation
clients, typically with complex technical needs and undertaken in operating
environments where safety and compliance performance are critical
requirements. The division predominantly provides engineering services and
support for their clients' capital intensive, mission-critical assets such as
high voltage electrical transmission systems, petrochemical and continuous
process operations, and large power generation plants.

 

·      B2B Manufacturing Division: focuses on selective niche B2B
markets or businesses, where the Group has identified an opportunity to
achieve enhanced financial performance by leveraging an initially strong
competitive market position combined with the Group's business improvement
capabilities.

 

The Group operates across a diverse range of sectors and markets, including
industrial, infrastructure and mass transportation. The Group deploys a
structured "Buy, Improve, Build" strategy with a track record of value
enhancing acquisitions in the industrial environment. It has a particular
focus on leveraging the Group's experience and track record in relation to
acquisitions arising from owner manager 'retirement' situations, where there
are no, or limited, alternative plans for succession to sustain the enterprise
value present within the target business.

 

The Group has been created through a series of 18 successful acquisitions,
comprising the acquisition of 14 operating companies and 4 bolt-on
asset/business purchases, each of which has been integrated into the Group.
Post acquisition, the Group has a strong focus on facilitating and supporting
its operating companies with organic growth initiatives, and the Group's
businesses are well placed to take advantage of generally positive conditions
in their respective niche end markets.

 

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