Kedco announces acquisition of Reforce Energy
Renewable energy group Kedco has signed a heads of agreement with Reforce Energy as it looks to acquire its entire capital share.
Both parties are heading towards signing the final legal contracts and completing all pre-conditions related to the acquisition. The consideration for the acquisition, if completed, would be satisfied by the issue of new Kedco ordinary shares and would not involve cash consideration.
Reforce Energy is a renewable energy development company focused on small-scale renewable projects across various technologies. It has over 60 projects in the UK and Ireland at a capacity in excess of 40MWs at various stages of development.
“As recently reported to Kedco shareholders, we have been examining a potential acquisition which we believe has an attractive and diverse portfolio of complimentary projects, as well as a strong and experienced management team,’ says Kedco CEO Gerry Madden. ‘We are delighted to announce this proposed acquisition as it would add both breadth to the pipeline and available technologies as well as depth to the management team.’