SSE offered the ₤ 257m turnover service, then called SSE Contracting, in June 2021.
The financial investment company discovered it challenging to run rebranded Enerveo as an independent organization. Throughout this duration Enervo suffered collected reported pre-tax losses of ₤ 37m in the 2 years to April 2023.
The losses originated from tradition tasks in non-core markets and ₤ 14.6 m is separation expenses associating with rebranding and establishing standalone HR, IT and financing functions.
A more remarkable expense of ₤ 6.7 m was sustained to cover redundancy and legal expenses as the directors tried to simplify loss-making operations. This saw typical personnel headcount falling by over a 5th to around 1,440.
Following the repurchase, SSE stated it would now deal with Enerveo management to carry out a through evaluation.
This will establish and after that carry out a longer-term technique for each part of business. Enerveo provides a variety of services consisting of mechanical, electrical, high voltage, electrical lorry facilities setup, test and assessment services, too street lighting.