The acquisition strengthens Renew’s capabilities in delivering projects across the UK’s electricity transmission and distribution networks.
Renew has paid an initial cash consideration of £31.1m, with a further £18.9m potentially payable subject to the vendors achieving specified profit targets over a three-year period.
PBU’s latest accounts, covering the year ended September 30, 2025, reported turnover of £17.7m and a pre-tax profit of £3m.
Paul Scott, Chief Executive Officer of Renew, said: “This acquisition represents an excellent strategic fit for the Group, adding complementary specialist capabilities to our already well-established position in the regulated energy market.
“Our enhanced capabilities leave us strongly positioned to capitalise on the significant growth opportunities presented by the unprecedented levels of investment in the UK’s electricity transmission and distribution networks.
“PBU is a company we already know very well, I am delighted to welcome their highly regarded teams into the Renew family and I look forward to updating the market on their integration into the Group in due course.”
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