Gloucestershire-based energy services firm EARNZ plc has completed in August 29 this year the acquisition of Bristol-based Cosgrove & Drew Ltd from Zac Cosgrove and Luke Drew.
The total consideration payable for Cosgrove & Drew was up to £1.99 million.
EARNZ plc is an AIM Rule 15 cash shell seeking acquisitions in the energy services sector.
Cosgrove & Drew (C&D) is an energy support services company focused on two key areas.
These are mechanical engineering projects for mainly commercial sites within the public sector, and facilities management, where it provides various services for heating and plumbing.
For the period to December 31, 2023, Cosgrove & Drew reported total revenue of £9.09 million.
The company was incorporated in 2015.
