Renew Holdings Leeds subsidiary Envolve Infrastructure acquires Edwards Diving Services for up to £13m, expanding the group’s specialist water and marine engineering capability
Leeds-headquartered engineering services group Renew Holdings Leeds has acquired specialist marine and civil engineering firm Edwards Diving Services (EDS) for up to £13 million through its subsidiary Envolve Infrastructure. The deal, £10 million upfront with a further £3 million contingent on profit targets and management retention, brings in-house diving, design, and fabrication capability for complex water industry projects. The acquisition is Renew’s latest move to deepen its position in the regulated water sector as investment ramps up under the AMP8 control period, and the company says it is evaluating further acquisitions.
Why This Matters For Leeds
Renew Holdings is one of Leeds’ largest listed companies, turning over £1.12 billion. This acquisition shows a Leeds-headquartered group actively buying capability to position itself for AMP8 (the water industry’s current five-year investment cycle). The fact that Renew is funding the deal from existing facilities and describing it as immediately earnings enhancing, while signalling further acquisitions, suggests the group sees significant growth ahead in water and environmental services.
What Renew Holdings Is Buying
Edwards Diving Services, based in Pontypridd, Wales, provides specialist marine and civil engineering services to the water industry. The company uses in-house design and fabrication capability to deliver complex engineering projects in challenging environments, including inshore diving operations. Alongside EDS, Renew has also acquired Remar Safety Services, a breathing apparatus provider. Both businesses will continue operating under their established brands within the Envolve Infrastructure subsidiary.
“This acquisition expands our services into the exciting specialist water and environmental sectors, bolstering our existing, well-established position in the regulated water maintenance and renewal market. As we move into the second year of the AMP8 control period, we are increasingly well placed to capitalise on the significant level of investment.”
— Paul Scott, Chief Executive, Renew Holdings
AMP8 and the Bigger Picture
The acquisition fits a broader pattern of infrastructure firms buying specialist water capability ahead of what is expected to be a record AMP8 spending cycle. Earlier in April, Leeds-based NG Bailey acquired £30 million-turnover Engineering Solutions Group similarly to widen its access to water sector work. The Renew Holdings Leeds group, through its Envolve Infrastructure subsidiary, has been providing specialist engineering services in the water sector for over 40 years, and the addition of EDS broadens that into marine and diving operations. Jamie Prichard, managing director at Envolve Infrastructure, described the deal as complementary to the division’s growth plans, offering clients an enhanced turnkey service. Read more Leeds business news across all sectors.
- Learn more about Renew Holdings: https://renewholdings.com
