Acquisition of PWR-X Ltd
Excalon acquires PWR-X Ltd, a specialist cable jointing services provider, for £1.1m cash and debt free.
- Total consideration £1.1m
- Initial cash consideration £0.75m
Select text to share a quote on X · sign in to keep highlights & notes in your RNWH notes
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 Limited ("Excalon"), has acquired PWR-X Ltd ("PWR-X") 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.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.