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Eneraqua Technologies Acquires Underfloor Heating Solutions Provider Mathewson.

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MANews-(C)2009-2022

UK-based energy and water efficiency solutions provider Eneraqua Technologies plc (LSE: ETP) has acquired UK-based underfloor heating solutions provider Mathewson Holdings Ltd, serving the health and commercial sectors, for an initial consideration of GBP 1.4m (USD 1.7m) with further consideration of GBP 0.35m payable over two years, the company said.

For the year ended 31 August 2021 Mathewson delivered Profit Before Tax of GBP 0.3m and after allowing for integration costs the company expects the acquisition to be earnings enhancing in FYJan24.

The acquisition extends the group's low-carbon offering into the healthcare sector and strengthens its offering in other commercial sectors where Mathewson provides underfloor heating solutions.

The acquisition enables synergies with Eneraqua's existing expertise in ground source and air source heating systems.

Mathewson was founded in Durham in 1998 and is a national designer and installer of...

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