SSE has reacquired its contracting division for an undisclosed fee, just three years after it sold it to investment firm Aurelius Group.
SSE had previously sold the business, which was then known as SSE Contracting, to Aurelius in 2021 in a deal worth £27.5 million.
Since then, the business has been rebranded as Enerveo.
However, the firm has suffered as a standalone business and reported pre-tax losses totalling £37 million for the two years to April 2023.
The business has also shrunk its headcount by around a fifth, dropping from a 1,900-strong headcount in 2021 to 1,440 employees today.
In total, £6.7 million has been spent on redundancy and associated legal costs.
Enerveo offers a range of services including mechanical, electrical, high voltage, electric vehicle infrastructure installation, test and inspection services, as well street lighting.
At the time of sale, SSE said it was offloading the contracting division as part of its strategy to focus on its core networks and renewable energy businesses.
In a short statement confirming the reacquisition, SSE said it will conduct a review of Enerveo alongside the business’ current management team.
The firm reported an adjusted operating profit of £693.2 million for the half-year, down from £716 million at the same stage the previous year.