Renew Holdings has further expanded its specialist high-voltage electricity services capability with another acquisition, adding to its Excalon business haul.
The engineering services group’s utilities infrastructure specialist, Excalon, has acquired Electricity Distribution Engineering Services (EDES).
Founded in 2009 by three former United Utilities and Norweb engineers and led by Mark Radcliffe and Dave Crook, EDES provides high-voltage design services for underground and overhead electricity distribution lines.
It is for up to £9 million on a cash- and debt-free basis.
An initial £6.5 million will be funded from existing banking facilities, with up to £2.5 million in additional payments contingent on the management team remaining with the business and meeting profit targets.
The acquisition is expected to contribute to Renew’s profits immediately and joins recently purchased Emerald Power and PWR-X businesses.
Chief executive officer, Paul Scott said: “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.”
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The move expands Renew’s design and delivery capabilities, unlocking growth opportunities in the up to £60 billion UK power transmission and distribution market under Ofgem’s RIIO‑2 framework.
According to the latest EY-Parthenon CEO Outlook, 87 per cent of UK CEOs expect their appetite for M&A to grow over the next 12 months, reflecting rising confidence in acquisitions to drive long-term value despite ongoing global uncertainty.
Its latest acquisition follows its civil engineering business, Evolve Infrastructure’s, recent purchases of Edward Diving Services and Remar Safety Services for £13 million, continuing the group’s strategy of expanding specialist capabilities.
In its latest results for the year ended 30 September 2025, Renew reported revenue of £1.11 billion, with net assets of £241.1 million, supported by its acquisition buys.
The group said it “continues to evaluate a pipeline of further acquisitions”.
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