EARNZ PLC Gears Up for Expansion with Strategic Acquisitions in Energy Sector

EARNZ PLC Gears Up for Expansion with Strategic Acquisitions in Energy Sector

(IN BRIEF) EARNZ PLC is set to expand its presence in the energy services sector through the conditional acquisition of Cosgrove & Drew Limited and South West Heating Services Ltd. The company aims to leverage the global push for decarbonization as part of its growth strategy. The acquisitions are supported by a conditional institutional placing, with new and existing shares expected to be admitted to trading on AIM by August 29, 2024, pending shareholder approval. Shore Capital Markets and Zeus Capital advised on the deal, with legal support provided by BCLP. EARNZ PLC plans further acquisitions as part of its long-term strategy.

(PRESS RELEASE) LONDON, 20-Aug-2024 — /EuropaWire/ — In a strategic move set to bolster its position in the energy services sector, EARNZ PLC has announced a significant step forward through the conditional acquisition of Cosgrove & Drew Limited and South West Heating Services Ltd. The acquisitions form part of a broader strategy to leverage opportunities within the global push for decarbonization.

The transactions, which include a conditional institutional placing, are expected to bring in capital to cover acquisition costs and provide working capital for the newly enlarged group. Pending shareholder approval, EARNZ PLC is set to have its new shares admitted, and existing shares re-admitted, to trading on the AIM market by August 29, 2024.

The acquisitions are seen as a critical part of EARNZ PLC’s plan to expand its influence within the energy sector, with further acquisitions anticipated to follow as part of their growth strategy.|

Shore Capital Markets and Zeus Capital played key roles in this transaction, serving as nominated adviser and joint broker, and joint broker, respectively. The legal expertise for the deal was provided by Bryan Cave Leighton Paisner LLP (BCLP), with their team led by Corporate Finance Partner Tom Bacon, and supported by key members from both their UK M&A and Energy practices.

This latest move by EARNZ PLC underlines the company’s commitment to capitalizing on the accelerating global energy transition, positioning itself for long-term growth in a rapidly evolving market.

Media Contacts:

Tom Bacon
London
tom.bacon@bclplaw.com
+44 (0) 20 3400 3706

Lara Rush
London
lara.rush@bclplaw.com
+44 (0) 20 3400 2291

Florence Ha
London
florence.ha@bclplaw.com
+44 (0) 20 3400 2168

John Adamson
London
john.adamson@bclplaw.com
+44 (0) 20 3400 3375

SOURCE: Bryan Cave Leighton Paisner LLP