Engineering firm acquires water industry specialists
A Yorkshire based engineering firm has announced the acquisition of a sewer and water mains specialist.
Renew Holdings plc, who provide engineering services to maintain and develop UK infrastructure in the Energy, Environmental and Infrastructure markets, has bought Welsh firm Lewis Civil Engineering for £7.9m.
Renew was founded 200 years ago and centres its operations in Aberford, West Yorkshire. Lewis made a £1m profit on a £20.4m turnover during the year to 31 July 2012. Turnover this year is expected to be up 20% with similar profit margins.
Lewis’ clients include Wessex Water and Dwr Cymru Welsh Water and the firm employs around 175 specialist staff.
Lewis was 80% owned by Mrs J Lewis, who has resigned from the Board at completion of the transaction.
Roy Harrison OBE, Chairman of Renew, commented: “Renew’s presence in the Environmental market will be significantly strengthened by the acquisition of Lewis.”
“This acquisition accords with the Group’s clear strategy of growing its Engineering Services business in sustainable markets, where it can secure strong framework positions with major clients focusing on areas of non-discretionary spend.”
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