Renew Holdings sells Forefront Utilities to Ferns Group
Renew Holdings has disposed of Forefront, its loss-making engineering services division. Forefront provides low pressure, small diameter gas pipe replacements. The firm made a pre-tax loss of £2.8m in the last financial year, but with a renewed focus on medium pressure activities has been touted to return to profitability in the financial year ending September 2018. It has been sold to Ferns Group for a de-minimis consideration, with Renew bearing no ongoing liability in return.