Amcomri snaps up Enerveo testing division in £1 deal

(Sharecast News) - Engineering services and industrial manufacturing group Amcomri said on Friday that its newly formed subsidiary, GridCore Electrical Services, has agreed to acquire the business and assets of Enerveo's National Compliance and Testing division for £1. Amcomri said the acquisition will provide it with a nationwide specialist electrical testing and compliance operation and open up further opportunities in the private‑network electrical‑infrastructure market, which it described as a "key strategic target sector".

The division brings a long‑established customer base with recurring revenue and an experienced operational team, with Amcomri highlighting that the deal would also create scope for synergies with its other power‑engineering businesses. For the year to 31 March 2025, the unit generated roughly £5m in unaudited revenue.

Amcomri will acquire net assets of about £1.5m on completion, which was expected to take place on or around 31 May, subject to customary conditions.

Chief operating officer Mark O'Neill said: "We are pleased to announce our third acquisition since our admission to AIM in December 2024. The acquisition of the business and assets from Enerveo's National Compliance and Testing division is an opportunity to develop a key strategic target area of the group, as well as having the potential to broaden our service offering into specialist electrical-infrastructure markets, as we continue to roll out our proven 'Buy, Improve, Build' model.

"The acquisition and subsequent development opportunities have significant synergy potential with other established Amcomri Embedded Engineering businesses. We now look forward to working towards completion with the team at National Compliance on this exciting development for the group."

As of 1015 GMT, Amcomri shares were down 1.72% at 114p.







Reporting by Iain Gilbert at Sharecast.com

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