IN BRIEF: Renew Holdings buys high-voltage cabling services firm PBU

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Renew Holdings PLC - Leeds, England-based engineering services provider - Acquires Porter Brothers Holdings Ltd, parent company of PBU UK Ltd, for of up to £50.0 million in cash. The initial cash outlay of £31.1 million is funded through existing banking facilities, with a further £18.9 million conditional on profit targets being met over the next three years, Renew says. The acquisition, via subsidiary Excalon Holdings Ltd, strengthens the company's capabilities in electricity transmission and distribution through PBU's specialist extra-high-voltage cabling and directional drilling services, Renew says.

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