Renew Holdings plc (LON:RNWH), the leading Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, has announced that its wholly owned subsidiary, Excalon Limited, has acquired PWR-X Ltd for a total consideration of £1.1m on a cash and debt free basis.
PWR-X is a provider of specialist cable jointing services to the power industry. This acquisition represents a strong strategic fit expanding Excalon’s capabilities and enhancing its offering in the high voltage power market.
The initial cash consideration of £0.75m has been funded from the Group’s existing banking facilities. The Group continues to evaluate, in line with its strategy, a pipeline of further acquisitions.
