Renew on acquisition hunt

ENGINEERING support services business Renew Holdings is on the hunt for potential acquistions.

The company has set its sites on becoming a £500m turnover business by 2014 after posting record results.

Chief executive Brian May said: “We are looking broadly across the engineering space to broaden our base in terms of both our skills and geographic coverage.

“Clearly our environmental business is our smallest at the moment but energy is very important and maybe there’s other parts of infrastructure we may get into.”

In recent years the company has made a strategic shift away from construction and into engineering services in areas including the nuclear and energy sectors.

“Clearly people are concerned about financial conditions but what we are involved with is maintaining existing assets and these things have to keep working. Therefore to some extent arguments about capital spending don’t really worry us.

“We have shown good growth in nuclear and we are hopeful that will continue and we have had good growth with rail but we feel we can do more for major clients we have got across energy and to some extent environmental.”