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United Kingdom : RENEW acquires FOREFRONT GROUP LTD.

August 5, 2014

The engineering services group that supports British infrastructure, Leeds- based Renew, has bought Forefront Group Ltd for a cash consideration of 14.8 million.

The deal has been financed fom the Group's cash resources and a four year term loan of 12 million offered by HSBC Bank plc and will be earnings enhancing to Renew.

With its head office in Leigh-on-Sea and established in 1995, an expert engineering business focused in the gas infrastructure market, Forefront, has operations in the South East of England.

The business concentrates on the replacement of gas mains and other key services for National Grid and Southern Gas Networks in London and the South East.

Forefront offers its services through framework deals and staffs nearly 350 skilled employees.

Chairman of Renew, Roy Harrison OBE, said : "The acquisition of Forefront takes the Group into a new sector within the Energy market and is in line with our strategy of broadening our range of Engineering Services supporting critical UK infrastructure. As part of the Renew Group, Forefront, which has a leading industry reputation, will continue to develop its strong, independent brand. The gas mains network replacement programme provides Forefront with long term visibility and excellent growth opportunities."

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Source: TendersInfo (India)

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