- In 2025 the business generated c.£14.7m revenue (2024: c.£14.4m) & £0.9m adj EBITDA (2024: c.£1.5m)
- Excellent near-term & medium-term revenue visibility to deliver significant growth in 2026 & beyond
- Acquisition includes c.£3.95m of inventory & £2.5m net working capital
- Completed on a cash-free debt-free basis at an attractive equity value of c.£3.5m, representing a 2.3x 2024 EBITDA multiple
- In order to facilitate the Acquisition as part of a competitive process with an accelerated timetable, EGT entered into short-term Bridge Facilities totalling £3m
- Intention to launch a fundraise via a placing to raise c. £5m
- £2.6m in cornerstone offers received (including £1.5m converting from Bridge Facilities), representing up to 50% of the c.£5m placing ahead of the Fundraise
- New medium-term target of £50m Group revenue and double-digit EBITDA margins
- Plans for progressive dividend policy from the first full year following completion of the Acquisition, targeting annual dividend growth of approximately 5%
Cathal Friel, Co-founder and Executive Chair of European Green Transition plc said: “I am delighted with this significant milestone in EGT’s strategy that we set out at IPO targeting the acquisition of high-potential, profitable critical infrastructure services businesses. We have been engaging with the management teams of Earthmill and WEP for the last 18 months and are delighted to have completed the acquisition of these businesses at what we believe to be an attractive valuation. The businesses are trusted partners, delivering high quality services to over 900 wind turbines across the UK and Ireland with recurring revenues and excellent near and long-term visibility to deliver significant revenue growth in 2026 and beyond. Furthermore, this platform allows the Company to continue its growth and expansion into related areas such as water, energy, roads, and data centres.
“We are acquiring these businesses at an exciting time following the removal of the defacto ban on onshore wind in the UK imposed by the Conservative government. This has created a significant and immediate repowering opportunity which involves replacing and upgrading ageing wind turbines. The business has signed approximately 50 heads of terms providing over £19 million of repowering revenue visibility with approximately 280 additional qualified prospects, which is in addition to its core operating, maintenance, repairing, and remote monitoring relationships.
“We have a new medium-term target of £50 million revenue and double-digit EBITDA margins, as we focus on free cash flow generation to support further strategic growth and ensuring we can pay a progressive dividend going forward. We believe this transaction positions EGT well to deliver value for shareholders going forward.”
Dave Broadbank, Managing Director of the O&M Business, said: “This is an exciting moment for both our business and EGT. We have a strong platform, a loyal client base and a huge opportunity ahead of us. Being part of EGT will enable us to move faster and drive long‑term growth, while staying focused on the quality and reliability our clients expect. Having been with the business for 15 years, I’m incredibly proud of the team and what we’ve built, and I look forward to the next phase where we can unlock further potential across all businesses within the Group.”
