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Renew - Buys attractive business maintaining 490 UK wind turbines

November 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • RNWH
  • Price:
  • 1072p
Two hugely margin-accretive developments for Renew (RNWH; 1072p): first, the disposal of Walter Lilly, its non-core building side, for a nominal consideration, which leaves the business fully focused on engineering services, and second the acquisition of Netherlands-based Full Circle for £50.5m or 12x forward operating profit. Full Circle is a specialist provider of repair, maintenance and monitoring services for onshore wind turbines in the UK and Europe and is Renew’s first international acquisition. Full Circle brings in a turbine management system that continuously analyses equipment to facilitate predictive maintenance services, significantly reducing turbine downtime. The company has 185 highly skilled technicians located ne ...

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