Mitie swoops for leading solar energy design and fit firm
Mitie swoops for leading solar energy design and fit firm
Abstract
The FM specialist will initially pay £8m for Custom Solar followed by a second payment of up to £4.4m. UK solar power generation is targeted to reach 40GW in 2030, up from current levels of 14GW. At the end of last year, Mitie acquired Rock Power Connections which specialises in high voltage electricity grid connections, electrical infrastructure upgrades and EV charging. In the last 12 months to March, Custom Solar generated revenues of £15m and pre-tax profit of £1.2m. The last 12.1m. and pre -tax Profit of £3.5m and £7m. in the last year.
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