Rendesco has acquired ADP Group’s geothermal drilling operations, enhancing its capacity to deliver cost-effective renewable heating solutions.
Target Information
Rendesco has officially announced the acquisition of the geothermal drilling operations from ADP Group, enhancing its ability to deliver comprehensive renewable heat solutions. By integrating ADP’s expertise in geothermal drilling with Rendesco’s project management and engineering capabilities, the collaboration is expected to significantly lower the costs associated with renewable heating projects.
Tom Page, previously the Managing Director of ADP Group, will take on the role of Head of Drilling at Rendesco. This strategic move aims to not only streamline operations but also to leverage the combined skills of both companies in advancing geothermal energy solutions.
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Industry Overview
The geothermal energy sector is gaining momentum globally, with a growing recognition of its potential as a sustainable heating source. In the UK, government initiatives and incentives are driving g
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Rendesco
invested in
ADP Group
in 2023
in a Strategic Partnership deal
Disclosed details
Transaction Size: $6M