Worst kept secret in town out in open as asbestos specialist enters demolition fray.
UK construction news portal Construction Enquirer is reporting that asbestos contractor Silverdell has agreed to pay £15 million to buy specialist industrial demolition contractor EDS.
Silverdell hailed the takeover as a “transformational deal” that would give it access to international clients like Shell, Exxon, Rolls Royce and Pfizer.
The Sheffield dismantling firm works in the UK and Canada and Australia, giving Silverdell a springboard into these new overseas markets.
Both firms struck up a relationship when they successfully jointly tender for the Magnox demolition framework contract.
To fund the deal, Silverdell plans to raise £8.8m through a share placing.
Sean Nutley, CEO of Silverdell, said: “This acquisition will transform Silverdell into a global specialist environmental support services group. EDS is a highly specialised decommissioning and dismantling provider with genuine global reach and a blue chip customer list which provides repeat work. Having worked closely with them, we understand the business well and believe that it can be successfully integrated into the group.”
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