On the 26th of March 2021 Renew Holdings plc announced the acquisition of J Browne Construction. Renew Holdings plc is a leading UK Engineering Services business, performing a critical role in keeping the nation’s infrastructure functioning efficiently and safely. The Group operates through independently branded subsidiaries across its chosen markets.
As a holding company, Renew grants autonomy to its operating subsidiaries, enabling them to be competitive and effective in their individual markets whilst setting overall standards. J Browne Construction joins nine other independently branded subsidiary businesses, each having expert knowledge in their individual markets and directly delivering engineering services aligned to the needs of clients, with the responsibility for the long-term maintenance and renewal of national infrastructure networks.
The acquisition of J Browne Construction represents an excellent strategic fit, adding material scale to Renew’s water business and brings new water clients into the Group. The water sector is an attractive market with £51 bn committed by Ofwat to deliver service improvements as part of the current five-year investment period (AMP7) which runs to 2025.
Paul Scott, Chief Executive of Renew, commented:
“This acquisition broadens Renew’s exposure to the UK water market and is consistent with our strategic objectives. This market offers attractive long-term growth opportunities underpinned by committed regulatory spend and is a sector we understand well from our established relationships in other water regions. We have known Jeremy and his team for many years and have tracked how they have successfully grown a business with an excellent reputation for directly delivering reliable engineering services to a number of water companies across the south of England, including Thames Water, the largest in the UK. This is a business that shares the values of Renew and I am delighted to welcome the management and staff of J Browne to the Renew family.”
Paul McMahon, Managing Director of J Browne Construction:
“We at J Browne are delighted to enter this new stage of development both for our business, and for our people under Renew ownership. The Renew business model together with the progressive and supportive nature of the outstanding companies within the group will assist us in achieving our growth ambitions. As we progress, we will of course continue to serve our customers and the communities we work in, to always meet and exceed their expectations.”
For more information please visit the Renew Holdings plc website: www.renewholdings.com