Mon, 13 Oct 2025 | BUSINESS SALE
An overhead lines specialist based in Cheshire has been acquired by a listed engineering services group in a deal worth up to £12.3 million. Emerald Power Limited has been acquired by Renew Holdings, a group specialising in the maintenance and renewal of the UK’s critical infrastructure, through its wholly owned subsidiary Excalon Holdings Limited.
The acquisition includes an initial cash consideration of £7.8 million, funded through Leeds-based Renew Holdings’ existing banking facilities, which is based on Emerald’s adjusted EBITDA of £1.9 million for the year to July 31 2025. There is also an additional £4.5 million consideration conditional upon the vendors remaining with Emerald Power and the business attaining specific profit targets.
Should the full £12.3 million value be realised, it would represent close to a 6.5x multiple of Emerald’s adjusted EBITDA. The acquisition is expected to be immediately earnings enhancing.
Emerald Power is a specialist in overhead lines and focuses on maintaining and upgrading electricity networks for Distribution Network Operators (DNOs) in the North West. Through the acquisition, Salford-based Excalon enters the overhead line maintenance and repair market across voltages ranging from 11kV to 132kV.
The deal is described as aligning with Renew’s strategy of targeting end markets in which maintenance and renewals programmes are supported by long-term, non-discretionary funding.
Renew Chief Executive Paul Scott said that the acquisition was a “strong strategic fit for the group” and would enable it to expand “into the rapidly growing overhead line maintenance and repair market.”
He continued: “It will bolster our existing well-established position in the regulated electricity distribution sector, with Excalon, and we are now increasingly well placed to capitalise on the significant levels of investment being directed into the market in support of the government's commitment to decarbonising the UK's electricity grid before 2030.”
Increasing investment in critical infrastructure is helping to drive M&A in the UK civil engineering sector
Operating from a strategically located freehold site, this established engineering business specialises in providing civil and mechanical infrastructure services to the marine sector, boasting a long-standing client base.
This well-established rope access systems company in Aberdeen boasts an impressive reputation and a prestigious 'blue chip' client base. With IRATA accreditation, the business offers one-stop, tailored services and includes all necessary equipment an...
This well-established spray drying toller offers services to a diverse international clientele, boasting a large output capacity and the ability to customise through its own-design spray dryers.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.