Scunthorpe electrical engineering outfit ESM Power snapped up by Mitie in £8.5m deal

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Facilities management giant Mitie has struck a deal to acquire high voltage electrical engineering firm ESM Power.

The £8.5m agreement will see the Scunthorpe business, which specialises in managing grid and power connections, join the national operator’s £1.1bn Projects business which delivers construction and refit projects across different sectors. ESM’s staff of 60 installers and designers will join Mitie Project’s 2,700-strong team.

News of the deal was announced to investors on the London Stock Exchange, where Mitie said ESM has more than 20 years experience in providing high voltage power connections and has delivered for local authorities, commercial customers and power generation sites. The firm is said to have delivered revenue of £25.5m in the year to the end of April and counts blue chip names among its customer base, including Centrica, PepsiCo and RWE.

ESM is also an accredited Independent Connections Provider (ICP) for the National Electricity Registration Scheme (NERS) and certified transformer and switchgear installation capabilities. Mitie said the acquisition will complement earlier purchases of Rock Power Connections and G2 Energy, which also specialise in power connections. The £4.5bn revenue group is looking to the opportunities in the connection market which is it said was benefiting from investment and activity amid UK energy transition efforts.

Mark Caskey, managing director of Mitie Projects, said: “We are delighted that the ESM Power team will be joining Mitie. This acquisition strengthens our position as a leading provider of power connections in the UK, offering our customers a comprehensive range of design, delivery and maintenance capabilities to support their decarbonisation and asset resilience objectives. It is a continuation of the Group’s strategy to invest in high growth, high margin companies that enhance our full asset lifecycle Projects business. We look forward to working with our new colleagues.”

Roger Bamford, managing director of ESM Power, said: “I am proud of the ESM Power team and the business we have built over the past 20 years. We are excited to be joining the Mitie team, sharing our expertise and benefiting from the opportunity to work with Mitie’s experienced colleagues and extensive customer base to grow our business.”

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

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Scunthorpe electrical engineering outfit ESM Power snapped up by Mitie in £8.5m deal

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