Fulcrum buys electrical services firm for £22m

Aaron Morby 7 months ago
Share

Sheffield-based gas utility contractor, Fulcrum, has acquired the Dunamis Group for £22m, significantly increasing its capabilities in electricity services.

Fulcrum moves into multi-utility services

The deal enables £20m turnover Fulcrum to expand further into the electrical connections market, estimated to be worth over £500m a year.

Dunamis is a leading independent electrical connections provider, which achieved £10m revenue in the last six-months  and recorded a £1.8m pre-tax profit.

It employs 48 staff in four divisions and provide services including the design, installation and project management of renewable energy-related connections in areas such as battery storage facilities and short-term operating reserves.

Through Maintech Power Services, it also builds, project manages and maintains private electricity networks.

The business provides operational and maintenance services to approximately 200 sites across the UK.

Headquartered in Bury St Edmunds, Dunamis was founded in 2012 by Chairman Wayne Hayes, who will join the Fulcrum board as a non-executive director.

The deal is the latest development in Fulcrum’s electrical market growth.

It follows on from Fulcrum securing its Independent Distribution Network Operator (iDNO) licence, which it achieved at the end of 2017, and enables the company to adopt, own and operate electrical assets.

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.”

 

Latest news

Government agrees to fund stalled Carillion hospital

Public cash to fund completion of new Midland Metropolitan Hospital.
6 hours ago

Spurs stadium builders “earning more than the players”

Team of 3,800 construction workers now on site to get job finished
13 hours ago

Winners revealed for London Development Panel 2

29 organisations secure places on huge housing framework
1 day ago

Growth strategy pays off for cladding firm Vivalda

Supplier shrugs off sector woes to post rising turnover and profits
10 hours ago
Vivalda Group plc

Murphy lands luxury resi and retail scheme in Henley

Construction starts this month on mixed-use scheme by the Thames
11 hours ago

Green light for Mace £70m Sheffield PRS and student scheme

Mace ramps up student development business with fourth project
13 hours ago

Wates wins £70m Barnet council building upkeep deal

Builder will maintain nearly 100 public buildings in North London Borough
13 hours ago

York Council retenders Interserve Guildhall revamp

Bids to be invited in January for Grade I building refurbishment
14 hours ago

Boost your online presence – join the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
4 months ago

Stantec to acquire Peter Brett Associates

Latest deal adds another 700 professionals to the expanding Stantec team
1 day ago

Balfour boosts profits despite another Aberdeen road hit

Build to Last programme on track but Aberdeen Western Peripheral Route losses rise to £135m
1 day ago

War of words starts over Spurs stadium delay

Tottenham board "hugely frustrated" by eleventh hour report of problems by Mace
2 days ago

NG Bailey reveals £2.2m Carillion hit

M&E firm reveals cost of stalled Midlands hospital project
1 day ago

Leading steel fabricator falls into administration

Rippin goes under due to slow paying customers and orders slowing down
2 days ago

Four clinch £500m Midlands highways framework

Balfour Beatty, Eurovia, Galliford Try and Morgan Sindall bag medium schemes framework places
2 days ago

Kier confirmed for London £27m biomedical labs job

Work to start later this year on  London School of Hygiene and Tropical Medicine project
2 days ago

Ex O’Rourke site leader to oversee Everton stadium scheme

Major project veteran Colin Chong to oversee move to Bramley-Moore Dock
2 days ago

Spurs confirm stadium opening delay

Tottenham holding urgent talks with Mace and trade contractors
3 days ago

Crane drivers threaten “autumn of anarchy”

Unite members at mobile giant Ainscough in strike threat
3 days ago

Plan submitted for vast York Central redevelopment

Work on York 45ha railway land redevelopment could start next year
2 days ago

Construction start date for office scheme next to Crossrail

Workspace giant HB Reavis acquires Farringdon site
2 days ago

Road and commercial delays hit Polypipe profits

Residential sector still booming and materials giant confident about rest of the year
3 days ago

Boot submits Nottingham £60m warehousing scheme

Building work set to start by autumn 2019
3 days ago

Ikon blames collapse on site death investigation

Trade creditors owed more than £9m as assets sold to new firm set up by former directors
3 days ago

Construction Enquirer Awards Top Ten winners revealed

More than 15,000 votes cast already. Book now for the big night
4 days ago

£560m Welsh healthcare framework winners

Four contractors secure NHS Wales major project pipeline
4 days ago

Balfour Beatty starts Mayfair luxury flats

Luxury 32-flats scheme is being built at 60 Curzon Street
3 days ago

Yorkshire Water starts bid race for £1bn AMP 7 work

Selected firms will deliver works not covered by tier one alliance partners
4 days ago

Plans in for £350m Leicestershire warehouse hub

IM Properties submits plan for 3.6m sq ft logistics hub near the M42
4 days ago

Redrow plots £180m Brentford mixed-use scheme

House builder teams up with social housing provider for 450-flat London scheme
3 days ago

Contractor services