February 2, 2018
Industrials and Industrial Technology
GCA Altium advises Dunamis on its sale to Fulcrum
GCA Altium has advised The Dunamis Group Ltd as it becomes part of Fulcrum Utility Services Ltd, to create one of the UK’s leading gas and electrical infrastructure services groups. This transaction marks GCA Altium’s 15th in the Industrials space in the last 12 months.
Fulcrum, which is listed on London’s Alternative Investment Market (AIM), has entered into a conditional agreement to acquire Dunamis, one of the UK’s leading independent electrical connections providers. Fulcrum is a multi-utility infrastructure and services provider to the UK’s residential, commercial and industrial markets. The acquisition will significantly expand Fulcrum’s capabilities and specialist knowledge in the electrical infrastructure services sector.
Adrian Reed, Managing Director at GCA Altium, said: “Dunamis is led by an entrepreneurial management team with a long-standing history and track record in the electrical infrastructure space. This market represents a significant growth opportunity for Fulcrum and is estimated to be worth in excess of £500m per annum. The two companies will also benefit from the fact that the gas and electrical services sectors are mutually compatible – providing significant cross-selling opportunities for both businesses. We are confident that Dunamis will continue to thrive as it becomes part of the enlarged Group.”
Wayne Hayes, Chairman at Dunamis, 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. Along with my fellow directors, I am delighted in becoming a shareholder in Fulcrum, as well as joining the board of Fulcrum as a non-executive director.”
Martin Harrison, Fulcrum’s Chief Executive Officer, commented: “This acquisition meets key strategic goals for Fulcrum – accelerating our future growth through the cross-selling of gas and electrical connection services, increasing electrical asset adoption opportunities and significantly expanding and extending our direct delivery capability within the electrical infrastructure market. This will reinforce our trusted “right first time” service built on technical expertise.”