IN BRIEF: Renew Holdings acquires PWR-X for GBP1.1 million

Renew Holdings PLC - Leeds, England-based engineering services group - Acquires through its subsidiary Excalon Ltd, provider of specialist cable jointing services to the power industry, PWR-X Ltd for a GBP1.1 million total consideration. Notes the deal was on a cash and debt free basis. Says the initial GBP750,000 cash consideration was funded via the company's bank facilities. "This acquisition represents a strong strategic fit expanding Excalon's capabilities and enhancing its offering in the high voltage power market," says Renew Holdings. Adds that it continues to evaluate a pipeline of further acquisitions.

Current stock price: 906.00 pence, down 1.3% on Monday morning in London

12-month change: up 14%

By Christopher Ward, Alliance News reporter

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Renew Holdings