European Green Transition raises £7.5M for Earthmill acquisition

Описание: European Green Transition PLC (AIM:EGT) executive chair and co-founder Cathal Friel talked with Proactive's Stephen Gunnion about the company’s recently announced conditional £7.5 million fundraising and its acquisition of wind turbine maintenance and monitoring businesses, including Earthmill Maintenance.

Friel described the raise as a strong result in what he called a “tricky market,” noting that the fundraising was significantly oversubscribed and ultimately scaled up from an initial £5 million target to £7.5 million. The capital will support growth initiatives following the company’s acquisition of assets from Arena Capital Partners, including Earthmill, WEP, Silverford Engineering and a majority stake in analytics company AMOS.

According to Friel, European Green Transition acquired the businesses for £3.5 million and believes the assets offer strong upside potential. He highlighted that the acquired operations already generate recurring revenues of around £14–15 million annually and are EBITDA profitable. The company sees particular potential in the “repowering” opportunity within the wind energy sector.

Earthmill Maintenance managing director David Broadbank explained that the company provides wind turbine servicing, remote monitoring and component replacement services across the UK and Ireland. Beyond maintenance, the business also works with clients to upgrade older turbines to more efficient models capable of generating significantly more electricity.

Broadbank outlined how replacing a 250kW turbine with a 660kW unit can dramatically increase electricity generation and annual revenue for site owners, helping businesses improve energy security and reduce reliance on volatile fossil fuel markets.

Friel said European Green Transition believes Earthmill could surpass comparable businesses in scale and is targeting £50 million in revenue with double-digit EBITDA margins over the medium term.

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