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A Durham-headquartered designer and installer of underfloor heating has been acquired by Eneraqua Technologies.

The listed company, which provides energy and water efficiency services, has snapped up Mathewson Holdings, which was founded in 1998 and, for the year ended 31 August 2021, reported pre-tax profit of £300,000.

The deal is for an initial consideration of £1.4m with further consideration of £350,000 payable over two years.

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