Renew has acquired rival engineering firm Enisca Group for £15.6 million.
by Rory Butler / November 30, 2022
Enisca, headquartered in Cookstown, Northern Ireland operates in the water and environmental sector.
Renew’s existing water business acquires Enisca’s Mechanical, Electrical, Instrumentation, Controls and Automation (MEICA) frameworks, and its water supply clients, in the deal.
These include Southern Water, South East Water, Affinity Water, Yorkshire Water, Irish Water, Northern Ireland Water, Anglian Water and Northumbrian Water.
The buy will also help Renew prepare for the water industry’s AMP8 cycle, starting in 2024.
AMP8 goals for water companies
- net zero by 2030
- reduce sewage spills
- mitigate Climate Change
Renew said it forecasts sales of £30 million and operating profit of £2.1 million for the 12 months for September 2023, based on the deal.
The entire executive management team of Enisca will remain with the business.
“This acquisition broadens Renew’s exposure to the UK water market and is consistent with our stated strategic objectives,” said Paul Scott, Chief Executive of Renew. “I am delighted to welcome the management and staff of Enisca to the Renew family.”
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