Benchmark International Successfully Facilitated the Transaction Between Emerald Power Ltd and Excalon Holdings Limited

Benchmark International is pleased to announce the transaction between Emerald Power and Excalon, a wholly owned subsidiary of Renew Holdings, for up to £12.3 million total consideration.

Emerald Power, based in Cheshire, is a specialist overhead lines contractor focused on the maintenance and upgrade of electricity networks for distribution network operators (DNOs) in the NorthWest.

Established in 2002, Excalon has steadily grown to be recognised as a major Tier 1 contractor working as an ICP, EPC and network infrastructure partner, specialising in the provision of services to the utilities industry throughout the UK.

Renew is a leading UK engineering services business, performing a critical role in keeping the nation's infrastructure functioning efficiently and safely. The group operates through independently branded subsidiaries across its chosen markets, delivering non-discretionary maintenance and renewal tasks through its highly skilled, directly employed workforce.

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This acquisition represents a strong strategic fit for the group, further expanding its capabilities by taking Excalon into the fast-growing overhead line maintenance and repair market across voltages ranging from 11kV to 132kV. Emerald's expertise and established relationships will strengthen the group's position in the regulated electricity distribution sector.

Paul Scott, Chief Executive Officer of Renew, commented: “This acquisition will bolster our existing well-established position in the regulated electricity distribution sector with Excalon. 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.

"I am delighted to welcome the highly regarded Emerald Power team into the Renew family and I look forward to updating the market on the further progress made in this exciting sector in due course."

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