European Green Transition PLC (AIM:EGT) shares moved higher on Wednesday after it announced a deal to acquire an established, EBITDA-profitable wind turbine operations and maintenance platform in the UK and Ireland for £3.5 million in cash, a deal it says accelerates its strategy to build a portfolio of revenue-generating critical infrastructure services businesses.
The acquired platform services more than 900 onshore wind turbines across the UK and Ireland and includes Earthmill Maintenance (100%), an 85% stake in WEP Wind Energy Partnership and its subsidiary Silverford Engineering, plus a 52% interest in Anemos Analytics, a condition-monitoring software business.
EGT said the assets continued to trade profitably despite issues at the parent level, which is in liquidation.
"I am delighted with this significant milestone in EGT's strategy that we set out at IPO, targeting the acquisition of high-potential, profitable critical infrastructure services businesses," said EGT executive chair Cathal Friel.
"We have been engaging with the management teams of Earthmill and WEP for the last 18 months and are delighted to have completed the acquisition of these businesses at what we believe to be an attractive valuation."
In financial terms, the O&M business generated around £14.7 million of revenue in 2025 and about £0.9 million of adjusted EBITDA, with EGT highlighting ~£3.95 million of inventory and ~£2.5 million of net working capital included in the transaction.
The company said it is buying the business on a cash-free, debt-free basis, valuing it at about £3.5 million, which it described as an attractive entry multiple.
EGT said policy changes lifting the “de facto ban” on onshore wind in the UK have created a near-term repowering opportunity, with around 50 heads of terms signed and a possible £19 million pipeline at an average contract value of ~£450,000.
Following completion, EGT said it is targeting a medium-term goal of £50 million of revenue and double-digit EBITDA margins, alongside a progressive dividend policy from the first full year after the deal completes.
"We believe this transaction positions EGT well to deliver value for shareholders going forward," Friel said.
Dave Broadbank, O&M managing director, meanwhile, added: "This is an exciting moment for both our business and EGT.
"We have a strong platform, a loyal client base and a huge opportunity ahead of us. Being part of EGT will enable us to move faster and drive long‑term growth, while staying focused on the quality and reliability our clients expect."
In London, EGT shares were up 4.35% changing hands at 6p, having seen as high as 7p in the day's earlier exchanges.