Acquisition of EDES

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

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	[e-mail]

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

 

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