RENEW HOLDINGS Plc

Description

Founded in the year 1786, Renew Holdings plc is a UK-based engineering services company. Headquartered in Leeds, UK, it is listed and traded on the London Stock Exchange publicly and aligns itself with the UK City Code on Takeovers and Mergers. It mainly operates in the UK, but it also carries out some of its activities in the US market. The subsidiaries of Renew Holdings plc include J. Browne Group Holdings Limited, Walter Lilly & Company Limited, VHE Construction Plc, Lewis Civil Engineering Ltd, Allenbuild (South-East) Ltd, Seymour (Civil Engineering Contractors) Ltd., Shepley Engineers Limited, Amalgamated Construction Ltd, and many more. The company operates with the help of these independent subsidiaries and a highly skilled workforce that uses its expertise to deliver obligatory maintenance and renewal services.

The ultimate goal of the group is to become a leading contractor in the business of engineering services and have a fundamental role in the maintenance of the country’s infrastructure while ensuring the highest standards of safety and efficiency. It aims to maximise the financial returns for its shareholders of the business, while creating long-term value for all the stakeholders. It operates across two business streams: engineering services and specialist building. The engineering services segment focuses on mechanical, electrical, as well as civil engineering activities. The specialist building segment focuses on building work with the help of a well-organised supply chain of subcontractors. It also covers central activities, like supporting the subsidiaries by providing them with central services offered by the company, selling the land for development purposes, and leasing of properties in the UK.

Approximately more than 90% of the operating revenues of the group are received from specialist engineering stream of the business. The specialist engineering activities primarily focus on markets like infrastructure, rail, environment, energy, and utility. These key markets are majorly governed by the set regulations and are obligated to receive funding. The specialist building stream of business focuses on residential and science markets in the UK.

Renew Holdings has a well-defined framework of corporate governance and complies with the Quoted Companies Alliance (QCA) Corporate Governance Code. It has an ethical code of conduct in place for running its business operations, and it promotes a culture of integrity, transparency, and accountability.

It has a comprehensive ESG framework and incorporates sustainability as an integral part of its business model. It strives to support the UK in reaching its target of net-zero carbon emissions by 2050, by coming forth with sustainable business solutions and reducing its environmental footprint.