Fulcrum in £1.4m deal for CDS Pipe Services

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Sheffield-based infrastructure and services firm Fulcrum has completed a £1.4m acquisition of specialist engineering business, CDS Pipe Services.

The firm said the acquisition is part of the company’s strategy to increase its direct delivery capabilities and to bring engineering services in-house.

Fulcrum had previously subcontracted specialist elements of its projects to Staffordshire-based CDS and this acquisition enhances the company’s capabilities and management of these complementary services.

The deal is the second acquisition made by Fulcrum in recent months following the purchase of the Dunamis Group, an electrical infrastructure services company, which created one of the UK’s leading gas and electrical infrastructure services groups.

A spokesperson said the integration of Dunamis is progressing well with management focusing on cross selling opportunities within the enlarged group.

Martin Harrison, chief executive of Fulcrum, said: “The successful execution of the company’s strategy continues to place Fulcrum in a strong financial and operational position.

“The recent acquisition of Dunamis and CDS announced today has enhanced our service offering and in-house capabilities, establishing and growing our market leading position in both infrastructure delivery and utility asset ownership.

“We remain confident in our outlook for the business”.

A spokesperson added that further progress is being made in the electricity market as Fulcrum’s iDNO electrical asset licence is now fully-operational and early enquiry levels from Independent Connection Providers (ICPs) for Fulcrum to adopt their electricity assets are encouraging. The combined order book for the business has now increased by £8m to £38.3m, up from £30.3m last year.

Richard Naish, partner at Walker Morris. said: “Fulcrum continues to be successful and demonstrate strong leadership and financial management. As such we’ve been delighted to work with the management team.”