Walker Morris client, AIM-listed construction and engineering group, Renew Holdings has made another major acquisition, strengthening their position in the UK infrastructure market.
The acquisition comprised 100% of the issued share capital of Agger Limited, the parent company of Carnell and certain assets of Adger Limited. Staffordshire-based Carnell is a provider of specialist engineering services to the highway network.
Renew provides multidisciplinary Engineering Services through its independently branded businesses to support essential UK infrastructure in the Energy, Environmental and Infrastructure markets. These markets, which are mainly governed by regulation, benefit from non-discretionary spending patterns and long-term visibility of committed funding.
The Walker Morris Corporate Team led by Debbie Jackson (Picture) and Richard Naish and supported by specialists across the firm advised Renew on the acquisition and a placing to raise £15 million from investors to part-finance the deal, which was also funded from new facilities provided by HSBC & Natwest.
Law Firms: Walker Morris solicitor;
Clients: Renew Holdings PLC;