With the addition of Freedom Group鈥檚 拢120m revenues, the acquisition will see NG Bailey鈥檚 annual turnover rise to more than 拢600m. It also provides a springboard for NG Bailey to move into new sectors, specifically the electricity distribution network (DNO) market.聽
The DNO market is expected to see expansion in the coming years, with new technologies supporting the rapid growth of low carbon power generation in the UK and the development of increased battery storage capacity.
Freedom Utility Services began life in 1996 as a management buyout from Yorkshire Electricity. It works primarily with DNOs and private network owners across substations, overhead lines, underground cables, buildings and associated infrastructure. Its key customers include Northern Powergrid, UK Power Networks, Scottish Power, Electricity North West, Yorkshire Water and the Port of Felixstowe.聽
The acquisition also increases NG Bailey鈥檚 capabilities in defence and airports, as well as expanding its engineering and maintenance services across major infrastructure portfolios, such as data centre telecoms and ports.
Freedom鈥檚 existing management team will continue to run the business under its existing brand as part of the NG Bailey Group.
NG Bailey chief executive David Hurcomb said: 鈥淏ringing Freedom Group into the NG Bailey family provides a natural extension to the range of services we already offer, particularly engineering and maintenance services.
鈥淐ombining our offerings strengthens both our market positions, but it also creates significant new opportunities for both businesses. It will enable NG Bailey to compete more effectively in new markets, specifically the electricity distribution sector. It is an area where our combined skills and market-leading approach to principal contractor management, design and BIM will add considerable value.
鈥淗aving Freedom鈥檚 skills and expertise will increase our capabilities within electrical infrastructure. It makes strategic and commercial sense to have Freedom as part of our group as it鈥檚 a well-respected company in a sector with strong future growth opportunities.鈥�
The addition of Freedom鈥檚 600-strong team will take NG Bailey鈥檚 headcount to 3,600 employees.
Freedom Group chief operating officer David Hartley added: 鈥淭his transaction marks an exciting milestone in the development and growth of Freedom, which has become a well-established, successful business with a strong presence in its core market. Our existing knowledge of, and relationships with, the distribution network operators, combined with NG Bailey鈥檚 innovative approach to large engineering and services projects, provides a strong platform for sustained growth for both companies.
鈥淭he enlarged group will offer a highly-attractive, end-to-end proposition across electrical, mechanical and fabric maintenance services to a number of markets, focusing on outstanding technical expertise and project delivery.鈥�
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