Renew buys civil engineer for £8m

Renew said the acquisition was funded from its cash resources and overdraft facilities.

Lewis was founded in 1984 and specialises in the construction and maintenance of infrastructure and assets within the water industry.

Its clients include Wessex Water and Dwr Cymru Welsh Water.

It provides its services through framework agreements and employs approximately 175 highly skilled personnel.

In the year ended 31 July 2012, Lewis reported an operating profit of £1.0m on turnover of £20.4m.

Roy Harrison, Renew chairman, said: “Renew’s presence in the Environmental market will be significantly strengthened by the acquisition of Lewis.

“This acquisition accords with the Group’s clear strategy of growing its Engineering Services business in sustainable markets, where it can secure strong framework positions with major clients focusing on areas of non-discretionary spend.”