£20 million acquisition doubles Silverdell revenues.
The £20.6 million acquisition of Euro Dismantling Services (EDS), completed 20 June, doubles Silverdell’s revenues.
The deal to buy EDS, completed 20 June, provides Silverdell with global reach, a more attractive ratio of revenues to cost base and opportunities to cross-sell its services into the global blue chip customer base of EDS. This is a truly complementary business, with a large pipeline of orders (£209m for the combined company) and earnings accretion.
And with the ink barely dry on the EDS acquisition, Silverdell has yet more reason to celebrate having secured two decontamination and dismantling contracts worth a combined total of approximately £13 million.
The work is being carried out on sites in Canada for two separate multi-national companies. The first contract, worth approximately £10.7 million, involves the complete disinvestment of a plant in Milhaven, Ontario for an International Specialist Material Company in the Chemicals sector. Work has just commenced and is expected to run for around 60 weeks.
The second contract, worth approximately £2.2 million, is for an international pulp and paper company and involves the dismantling of a pulp and paper mill plant in Chandler, Quebec, as well as the recovery of pulp and paper mill equipment for reuse in Vietnam. Work has just begun and is expected to complete in 16 weeks.
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