Acquisition

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 Mark O'Neill, Chief Operating Officer	Tel: [phone]
Siobhán Tyrrell, Chief Financial Officer Katy Birkin, Director of Corporate Development
Cavendish Capital Markets Limited Nominated adviser and broker	Tel: [phone]
Adrian Hadden/Callum Davidson/Isaac Hooper - Corporate Finance
Michael Johnson/Jasper Berry/Andrew Burdis - Sales/Broking
Walbrook PR Ltd	Tel: [phone]
Tom Cooper/Nick Rome	[e-mail]

To find out more, please visit: 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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