Business
Acquisition and Placing
Acquisition and Placing.
About this update from Renew Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 3575B Renew Holdings PLC 30 January 2020 \n\n \n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION CONTAINED HEREIN, IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014.\n \nRenew Holdings plc\n(\"Renew\", the \"Company\" and the \"Group\")\n \nAcquisition and Placing\nImmediately earnings enhancing acquisition of Carnell to expand Renew's service offering into the regulated highways sector\n \nPlacing to raise £15m, to part refinance acquisition \n \nRenew Holdings plc (AIM: RNWH), the Engineering Services Group supporting UK infrastructure, announces the acquisition of 100% of the issued share capital of Agger Limited, the parent company of Carnell Support Services Limited and certain assets of Adger Limited (together \"Carnell\"), a provider of specialist engineering services to the strategic highway network (the \"Acquisition\"), for a cash free / debt free consideration of £38m (the \"Consideration\"). The Group also announces a placing to raise gross proceeds of £15m (the \"Placing\") to part-refinance the Acquisition.\n \nAcquisition Highlights & Rationale\n \n· Carnell is an excellent fit with Renew's established and proven acquisiti...