Silverdell agrees acquisition of EDS Group Holdings

Silverdell PLC the environmental support services group has announced that it has agreed the “transformational” acquisition of EDS Group Holdings Ltd (EDS) for an initial consideration of £15m.

EDS, a provider of decommissioning and dismantling services, has an established working relationship with Silverdell and serves an “attractive market niche” to which Silverdell does not currently have exposure. The move will, according to Silverdell, accelerate its planned expansion into Canada and Australasia, adding scale and track record in those markets.

The company added that “significant” cross-selling opportunities are expected to exist and the enlarged group will be a more attractive partner to multi-national corporations. 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. It serves attractive market niches in geographies which are target territories for us. We believe that the enlarged business will be well placed to win further large framework contracts with multi-national corporations.”

Further, he added that the acquisition is expected to be “immediately earnings enhancing”.Through the acquisition, Silverdell intends to create an international specialist environmental support services group with a blue-chip, multinational client base. A planned expansion into Canada and Australasia will be accelerated, with extended cross-selling opportunities.EDS has won contracts for several multi-national corporations including: Shell, RioTinto, GSK GlaxoSmithKline, ExxonMobil, Cadbury, Rolls Royce, Pfizer and Ineos.

Silverdell has retained EDS’s key staff including managing director Darren Palin. The agreement for the acquisition of EDS by specialist environmental support services group Silverdell for an initial consideration of £15 million was completed in June.

Andy Harris at SNR Denton UK LLP led the legal team that advised Silverdell on the acquisition. “We were delighted to have the opportunity to advise Silverdell. Our international network meant that we were able to mobilise resource elsewhere in the world, when and where it was needed, to get this deal done for them.”