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02/02/2018
Fulcrum Completes Acquisition Of Dunamis Group
Utility contractor Fulcrum has announced the acquisition of electrical infrastructure services company, Dunamis Group.
The £22 million deal will allow Fulcrum to expand and extends its capabilities and specialist knowledge in the electrical infrastructure services sector, as well as creating on the UK's leading gas and electrical infrastructure services groups.
In a statement, Fulcrum said: "Dunamis offers a full range of fully accredited services and outstanding technical excellence in relation to the design, construction and ongoing contracted maintenance of power installations and related grid connections.
"In addition to the expansion and extension of Fulcrum's capabilities, there are significant cross-selling opportunities between the gas and electrical connections activities of the two businesses."
As part of the deal, the Dunamis' Chairman and founder Wayne Hayes will join the Board of Fulcrum as a non-executive director. Fulcrum's Chief Financial Officer, Hazel Griffiths, has also been appointed to the Board as an Executive Director.
Martin Harrison, Fulcrum's Chief Executive Officer, said: "This acquisition meets key strategic goals for Fulcrum - accelerating our future growth through the cross-selling of gas and electrical connection services, increasing electrical asset adoption opportunities and significantly expanding and extending our direct delivery capability within the electrical infrastructure market. This will reinforce our trusted "right first time" service built on technical expertise.
"Under Wayne's leadership, Dunamis has become an established and respected business within the electrical infrastructure market. Together, with the combined expertise of the Enlarged Group, we have a real opportunity to rapidly develop our position within the utility services market.
"I am particularly pleased that Wayne and the senior management will become shareholders in the Enlarged Group and look forward to welcoming Wayne to our Board."
Mr Hayes added: "This transaction marks an exciting milestone in the development of Dunamis and we are delighted to be entering the next stage of our growth strategy under Fulcrum's ownership."
(LM)
The £22 million deal will allow Fulcrum to expand and extends its capabilities and specialist knowledge in the electrical infrastructure services sector, as well as creating on the UK's leading gas and electrical infrastructure services groups.
In a statement, Fulcrum said: "Dunamis offers a full range of fully accredited services and outstanding technical excellence in relation to the design, construction and ongoing contracted maintenance of power installations and related grid connections.
"In addition to the expansion and extension of Fulcrum's capabilities, there are significant cross-selling opportunities between the gas and electrical connections activities of the two businesses."
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As part of the deal, the Dunamis' Chairman and founder Wayne Hayes will join the Board of Fulcrum as a non-executive director. Fulcrum's Chief Financial Officer, Hazel Griffiths, has also been appointed to the Board as an Executive Director.
Martin Harrison, Fulcrum's Chief Executive Officer, said: "This acquisition meets key strategic goals for Fulcrum - accelerating our future growth through the cross-selling of gas and electrical connection services, increasing electrical asset adoption opportunities and significantly expanding and extending our direct delivery capability within the electrical infrastructure market. This will reinforce our trusted "right first time" service built on technical expertise.
"Under Wayne's leadership, Dunamis has become an established and respected business within the electrical infrastructure market. Together, with the combined expertise of the Enlarged Group, we have a real opportunity to rapidly develop our position within the utility services market.
"I am particularly pleased that Wayne and the senior management will become shareholders in the Enlarged Group and look forward to welcoming Wayne to our Board."
Mr Hayes added: "This transaction marks an exciting milestone in the development of Dunamis and we are delighted to be entering the next stage of our growth strategy under Fulcrum's ownership."
(LM)
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