Renew Holdings PLC on Tuesday said it has acquired specialist engineering business Route One Holdings Ltd for £5.0 million.

Renew is a Leeds, England-based engineering services group, supporting the maintenance and renewal of UK infrastructure.

The cash consideration will be funded from existing cash resources, Renew said, and noted that the acquisition will grow its Carnell unit by ‘adding new capabilities to the group’s highways business, with particular expertise in bridge and structures maintenance and repair’.

Route One is a West Yorkshire specialist engineering business operating in the UK highways sector which provides end-to-end solutions for bridge deck maintenance and protection.

Shares in Renew were up 1.0% at 913.00 pence each in London on Tuesday morning.

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