Dunamis joins Fulcrum for £22 million to create UK’s leading gas and electrical infrastructure

  Posted by: electime      6th February 2018

Fulcrum, the Sheffield-based, multi-utility infrastructure services provider, has acquired the Dunamis Group for £22m, significantly increasing the company’s capabilities in the electrical services market.

This means that Fulcrum will be able to expand further into the electrical connections market, which is estimated to be worth in excess of £500 million per year.

The deal follows on from Fulcrum securing its iDNQ licence, which it achieved at the end of 2017, enabling the company to adopt, own and operate electrical assets.

The Dunamis Group, founded in 2012 by Chairman Wayne Hayes, will join an enlarged Fulcrum group and continue to trade under its existing brands.

Mr Hayes will join the board of Fulcrum as a Non-Executive Director alongside Fulcrum’s Chief Financial Officer, Hazel Griffiths, who has become an Executive Director.

Martin Harrison, Fulcrum’s Chief Executive Officer, said: “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. I am particularly pleased that Wayne and the senior management will become shareholders in the enlarged group and look forward to welcoming Wayne to our Board.”

Wayne added: “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.”