Facilities management giant OCS has acquired parts of decontamination specialist Silverdell, saving over 500 jobs
In a statement today, £840m-turnover OCS said it had acquired Silverdell subsidiaries Euro Dismantling Services, EDS Plant Solutions and EDS Group Holdings.
OCS said the move would save over 500 UK jobs.
Silverdell specialises in providing decontamination and environmental services such as asbestos removal and other decontamination work in high hazard areas and nuclear sites.
The subsidiaries acquired by OCS comprise the decontamination, access and insulation and nuclear trading divisions operated by EDS.
The acquisition gives OCS a strong presence in the asbestos removal and decontamination markets in hazard areas and nuclear sites.
The decommissioning business operating within the Silverdell Group has not been sold to OCS.
Silverdell encountered financial problems last year and it was forced to delist from the AIM market after its shares were suspended in July. When the shares were suspended Silverdell was valued at £40m.
OCS declined to say how much it had paid for the subsidiaries.
Martin Gammon, chief executive officer for OCS Group UK and Europe, said: “The specialist services provided by the acquired business units will complement our core facilities management offering.
“This acquisition once again demonstrates our unique ability to move swiftly to secure deals in distressed circumstances.”
“OCS and Silverdell are already serving the same market sectors and, in some cases, the same clients. This acquisition means we will be able to offer both sets of clients a broader set of associated services to help manage their assets and environments from a single point of contact.”