Scottish investment company, GEG Capital has acquired St Helens-based high-voltage cable installation and jointing specialist, Approved Power Services (APS), for an undisclosed sum, strengthening its position in the renewable energy sector.
The 100 per cent equity acquisition will enable the 2008-established APS to play a ‘leading role’ in high-voltage commissioning for onshore and offshore wind farms, through direct bids for high-value framework contracts with major network providers.
Nationally significant projects it currently works on include Hinkley Point C in Somerset, and the Beauly 132kV project in Scotland.
The acquisition will enhance GEG Capital’s energy infrastructure capability, covering planning and design, HV cable laying and jointing, substation and access infrastructure construction, and now, high-voltage commissioning for wind energy projects.
It joins recent investments in the energy sector such as Calder Electrical, and GEP Environmental, the latter of which forms part of GEG Capital transitioned consultancy, Mabbett.
Following the purchase from APS owner Paul Oakes, it was confirmed that all staff would be retained.
Plans are also underway to double its workforce within the next year, with a platform in development to take on larger-scale projects.
Rory Mackenzie, board director at GEG Capital, said APS was acquired based on its values, vision, and ambitious plans for growth and people development.
“The acquisition of APS brings further opportunities for the entire group,” he said.
“We will benefit from synergies with our other portfolio companies, including utilities, energy, and renewables contractor Global Infrastructure, and Arthian, which specialises in planning, environmental, engineering, and safety services.”
Paul Oakes, owner at APS, added: “We are delighted to join the GEG Capital portfolio. Not only will we immediately benefit from the opportunities created by collaborating closely with fellow group companies, but being part of a larger group will allow us to take APS to the next level.
“We look forward to working closely with the leadership team at GEG Capital and leveraging their established management, finance systems, and extensive experience in scaling businesses like ours.”
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