Mitie Group has finalized its acquisition of ESM Power, a Lincolnshire-based firm specializing in high voltage electrical engineering, for a maximum consideration of £8.5 million (£5.5 million upfront with up to £3 million deferred over two years). The acquisition is expected to be completed by July 31, 2024.

Established 20 years ago, ESM Power focuses on designing, delivering, and maintaining high voltage power connections, with expertise in substations and transformer installations. The company is recognized as an Independent Connections Provider (ICP) under the National Electricity Registration Scheme (NERS).

The acquisition strengthens Mitie’s position in the high voltage power connections market, vital for the UK's Net Zero goals. It enhances Mitie’s capabilities in designing and implementing critical infrastructure such as substations and transformers. This expansion complements Mitie’s existing portfolio, offering comprehensive solutions for customers in upgrading and decarbonizing their power infrastructure across sectors.

Mark Caskey, Managing Director of Mitie Projects, emphasized the strategic importance of the acquisition, stating, “We welcome the addition of ESM Power to Mitie. This move significantly enhances our capabilities in high voltage electrical engineering, particularly in substations and transformers, crucial components for enhancing infrastructure resilience and supporting decarbonization efforts.”

The acquisition of ESM Power follows Mitie’s recent strategic acquisitions in the power connections sector, further solidifying its comprehensive service offerings across various voltage ranges.

Source: fmj.co.uk