Engineering Services firm Renew Holdings plc (RNWH.L) announced Friday that it is exiting Specialist Building business with the disposal of Walter Lilly & Co. Ltd. for a nominal consideration on a cash free/debt free basis to Size Holdings Ltd.
Size, a provider of premium quality construction, specialist crafts and maintenance services, will assume any ongoing liabilities relating to Walter Lilly.
The company said the disposal will enhance its operating margins.
According to the firm, the disposal of its only remaining Specialist Building business is consistent with its strategy of focusing activities on Specialist Engineering where it targets end markets delivering maintenance and renewals programmes that benefit from long-term, non-discretionary funding programmes.
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