Business
Acquisition of EDES
Renew Holdings plc has acquired Electricity Distribution Engineering Services Ltd (EDES) for up to £9.0m, enhancing its high voltage electricity services capability. The initial cash consideration is £6.5m, based on a sustainable EBITDA of £650k, with an additional £2.5m contingent on vendor retention and profit targets. This acquisition, funded by existing facilities, is immediately earnings enhancing and expands Renew's design and delivery services within the power transmission and distribution market, which has committed investment of £50bn-£60bn over RIIO-2. EDES joins Emerald Power and PWR-X, enabling Excalon Holdings to offer full turnkey solutions. Disclaimer*
About this update from Renew Holdings Plc
[{"type":"text","content":"\n\n19 May 2026\nRenew Holdings plc\n(\"Renew\" or the \"Group\")\n \nAcquisition of Electricity Distribution Engineering Services Ltd\n Renew further expands its specialist high voltage electricity services capability \n \nRenew (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.\nEDES 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.\nEDES 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.\nThe 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.\nThe 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.\nPaul Scott, Chief Executive Officer of Renew, commented: \n\"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.\"\nMore information on EDES can be found on its website at: www.edesltd.com\n \nENDS\n \nFor further information, please contact:\n \n\n\n\n\nRenew Holdin...