Bury St Edmunds electricity services provider Dunamis acquired for £22m
- Credit: Archant
East Anglian electrical connections provider Dunamis Group has been acquired by Sheffield-based utilities infrastructure services provider Fulcrum in a deal valued at £22m
The Dunamis Group, which has headquarters in Bury St Edmunds, Suffolk, will become part of an enlarged Fulcrum group and continue to trade under its existing brands.
Fulcrum has said the acquisition will “significantly increase the company’s capabilities in the electricity services market”.
The Dunamis Group was founded in 2012 by chairman Wayne Hayes who will join the board of Fulcrum as a non-executive director.
Employing 48 people, the business has four divisions, which provide services including the design, installation and project management of renewable energy-related connections in areas such as battery storage facilities and short-term operating reserves.
Mr Hayes said: “This transaction marks an exciting milestone in the development of Dunamis and we are delighted to be entering the next stage of our growth strategy under Fulcrum’s ownership.
“I believe that the enlarged group will offer a highly-attractive proposition to the utility services market focused on outstanding technical expertise and project delivery.”