Renew Holdings plc (GB:RNWH) has released an update.
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Renew Holdings plc, a UK Engineering Services firm, has announced the strategic acquisition of Excalon Holdings Limited for a sum of up to £26 million, marking its entry into the electricity transmission and distribution sector. The deal, which aligns with Renew’s long-term growth strategy, is expected to be immediately accretive to earnings and allows the company to tap into the regulated DNO market and support the UK’s transition to zero carbon energy. Funded with existing cash and credit facilities, the acquisition promises to maintain Renew’s robust balance sheet post-purchase.
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