REG - Renew Holdings PLC - Acquisition of Emerald Power Ltd

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RNS Number : 0782D  Renew Holdings PLC  13 October 2025

13 October 2025

Renew Holdings plc

("Renew" or the "Group")

 

Acquisition of Emerald Power Ltd

Renew expands into the fast-growing overhead line maintenance and repair
market

 

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"), has
acquired Emerald Power Ltd ("Emerald") for a total consideration of 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. This acquisition represents a
strong strategic fit for the Group, further expanding 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.

The UK electricity sector is benefitting from significant investment across
both distribution and transmission infrastructure to support the government's
target of decarbonising the electricity grid by 2030. As a result, the
RIIO-ED2 regulatory funding cycle, which commenced in April 2023, has
allocated £22.2 billion to the distribution grid through to 2028.

The initial cash consideration of £7.8m has been funded from the Group's
existing banking facilities and is based upon Emerald having delivered an
adjusted EBITDA of £1.9m in the year to 31 July 2025. Additional
consideration of up to £4.5m is conditional upon the vendors remaining with
the business and specific profit targets being achieved.

The Acquisition will be immediately earnings enhancing. The Group retains its
strong balance sheet and continues to evaluate a pipeline of further
acquisitions.

Paul Scott, Chief Executive Officer of Renew, commented:

"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."

More information on Emerald Power can be found on its website at:
www.emeraldpower.co.uk (http://www.emeraldpower.co.uk)

 

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 / Pete Mackie / Charlotte Sutcliffe

 FTI Consulting (Financial PR)                           020 3727 1000
 Alex Beagley / Tom Hufton / Amy Goldup / Matthew Young  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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