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Keltbray buys £20m-turnover engineering firm

Keltbray has purchased Idec Group, a high-voltage-power engineering enterprise that gives electrical substation design, building and commissioning companies as much as 275kV.

Its work contains digital programs engineering for grid safety, management, supervision and information acquisition to the vitality networks, renewable vitality and energy-storage markets. Stockton-on-Tees-headquartered Idec employs 138 folks.

In a press release, Surrey-based Keltbray stated the acquisition, for an undisclosed sum, was a part of its technique to develop its infrastructure companies and would allow the enterprise to speed up its development in power-network enhancement, renewable vitality technology, vitality storage and transport decarbonisation.

The corporate stated Idec’s companies, notably within the regulated electrical energy market, have been a powerful match with Keltbray’s present vitality enterprise and lots of of its purchasers have been additionally purchasers of Keltbray.

Darren James, chief govt of Keltbray, stated: “The acquisition of Idec is an extra demonstration of the strategic focus of the Keltbray Group to develop its companies in important infrastructure markets.”

Mike Snee, managing director of Keltbray’s Power Companies, added: “Idec is an skilled {and professional} power-services supplier with a powerful repute in substation design, building and set up phases within the vitality technology, storage and utilities markets, in addition to course of management and systems-integration functionality within the water and industrial sectors.”

In its newest accounts, for the yr ending 31 October 2021, Keltbray turned over £197.3m and made a pre-tax lack of £6.4m.

Idec posted a £19.7m income for the 12 months to 30 September 2020, and made a £1.1m revenue earlier than tax.