Amcomri Group plc (LSE:AMCO), a UK-focused engineering services and industrial manufacturing group, has strengthened its Embedded Engineering segment through the formation of GridCore Electrical Services Limited. The move aligns with the company’s “Buy, Improve, Build” strategy, which focuses on acquiring businesses linked to critical infrastructure and those capable of generating reliable recurring revenue streams.
GridCore has agreed to purchase the business and assets of the National Compliance and Testing division of Enerveo Limited, a subsidiary of SSE plc, for a nominal consideration of £1. The acquired operation provides specialised electrical testing and compliance services across the UK and reported revenue of roughly £5 million for the year ended 31 March 2025. The transaction also brings around £1.5 million in net assets, giving Amcomri access to an established recurring customer base and potential operational synergies in the private electrical network infrastructure market.
Completion of the acquisition is expected by around 31 May 2026, subject to customary conditions including the novation of contracts and the completion of the TUPE transfer process. Enerveo will also provide transitional support services to GridCore following completion. The deal represents Amcomri’s third acquisition since joining AIM in December 2024 and is intended to expand the group’s capabilities in specialist electrical infrastructure while supporting its growth ambitions within the UK energy and infrastructure sectors.
The company’s solid financial performance and positive technical momentum provide supportive fundamentals, although its elevated valuation could indicate that the shares are trading at a premium. With no recent earnings calls or major corporate events affecting sentiment, these factors remain neutral in shaping the overall outlook.
More about Amcomri Group plc
Amcomri Group plc is a UK-based specialist engineering services and industrial manufacturing company operating under a “Buy, Improve, Build” model. The group focuses on acquiring and developing businesses that deliver technical services to major infrastructure, transportation and energy clients, while also producing specialised B2B products for industrial and mass transportation markets.
Leave a Reply