Keltbray buys £20m-turnover engineering firm

Keltbray has bought Idec Group, a high-voltage-power engineering business that provides electrical substation design, construction and commissioning services up to 275kV.

Its work includes digital systems engineering for grid protection, control, supervision and data acquisition to the energy networks, renewable energy and energy-storage markets. Stockton-on-Tees-headquartered Idec employs 138 people.

In a statement, Surrey-based Keltbray said the purchase, for an undisclosed sum, was part of its strategy to develop its infrastructure services and would enable the business to accelerate its growth in power-network enhancement, renewable energy generation, energy storage and transport decarbonisation.

The company said Idec’s services, particularly in the regulated electricity market, were a strong fit with Keltbray’s existing energy business and many of its clients were also clients of Keltbray.

Darren James, chief executive of Keltbray, said: “The acquisition of Idec is a further demonstration of the strategic focus of the Keltbray Group to develop its services in critical infrastructure markets.”

Mike Snee, managing director of Keltbray’s Energy Services, added: “Idec is an experienced and professional power-services provider with a strong reputation in substation design, construction and installation phases in the energy generation, storage and utilities markets, as well as process control and systems-integration capability in the water and industrial sectors.”

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

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

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