REG - Renew Holdings PLC - Acquisition of EDES

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RNS Number : 7878E  Renew Holdings PLC  19 May 2026

19 May 2026

Renew Holdings plc

("Renew" or the "Group")

 

Acquisition of Electricity Distribution Engineering Services Ltd

Renew further expands its specialist high voltage electricity services
capability

 

Renew (AIM: RNWH), the leading Engineering Services Group supporting the
maintenance and renewal of critical UK infrastructure, is pleased to announce
that its wholly owned subsidiary, Excalon Holdings Limited ("Excalon
Holdings"), has acquired Electricity Distribution Engineering Services Ltd
("EDES") for a total consideration of up to £9.0m on a cash and debt free
basis.

EDES is a provider of high voltage engineering design services to the energy
distribution market for both underground and overhead lines. This acquisition
expands Renew's design and delivery capabilities, enabling Excalon Holdings,
and the wider Group, to provide increasingly specialist electricity
engineering services. It will also unlock further growth opportunities in the
power transmission and distribution market where c.£50bn-£60bn of investment
is committed across the network over RIIO‑2.

EDES joins the recently acquired Emerald Power and PWR-X businesses, enabling
Excalon Holdings to deliver a full turnkey solution for clients, from design
through to all stages of delivery.

The initial cash consideration of £6.5m has been funded from the Group's
existing banking facilities and is based upon a sustainable EBITDA of £650k.
Additional cash consideration of up to £2.5m is conditional upon the vendors
remaining with the business for an agreed period and specific profit targets
being achieved.

The acquisition will be immediately earnings enhancing. The Group retains a
strong balance sheet and continues to evaluate a pipeline of further
acquisitions, in line with its strategy.

Paul Scott, Chief Executive Officer of Renew, commented:

"This acquisition represents a strong strategic fit for the Group, bolstering
our existing, well-established position in the regulated energy market. I am
delighted to welcome the highly regarded EDES team into the Renew family and I
look forward to updating the market on the further progress in due course."

More information on EDES can be found on its website at: www.edesltd.com
(http://www.edesltd.com)

 

ENDS

 

For further information, please contact:

 

 Renew Holdings plc                                          www.renewholdings.com
 Paul Scott, Chief Executive Officer                         via FTI Consulting
 Sean Wyndham-Quin, Chief Financial Officer                  020 3727 1000

 Deutsche Numis (Nominated Adviser and Joint Broker)         020 7260 1000
 Stuart Skinner / Kevin Cruickshank / Will Wickham

 Peel Hunt LLP (Joint Broker)                                020 7418 8900
 Ed Allsopp / Charlotte Sutcliffe

 FTI Consulting (Financial PR)                               020 3727 1000
 Alex Beagley / Amy Goldup / Matthew Young / Harleena Chana  Renew@fticonsulting.com

 

 

About Renew Holdings plc

Renew is a leading UK Engineering Services business, performing a critical
role in keeping the nation's infrastructure functioning efficiently and
safely. The Group operates through independently branded subsidiaries across
its chosen markets, delivering non-discretionary maintenance and renewal tasks
through its highly skilled, directly employed workforce.

 

Renew's activities are focused on Engineering Services in the key markets of
Rail, Infrastructure, Energy (including Wind and Nuclear) and Environmental
which are largely governed by regulation and benefit from non-discretionary
spend with long-term visibility of committed funding.

 

For more information please visit the Renew Holdings plc
website: www.renewholdings.com (http://www.renewholdings.com)

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