Takeover sparks new jobs hope

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New jobs could be created in Sheffield following the £15 million take over of Loxley-based, award-winning international plant dismantling and decommissioning specialist EDS Group Holdings by specialist environmental support services group, Silverdell.

EDS, ranked 59 in the latest edition of the Star Business Barber Harrison & Platt Top 100 Sheffield region companies, employs around 140 people and collected its first ever Queen’s Award last year after quadrupling its overseas income over three years to £76 million.

Silverdell’s chief executive, Sean Nutley, says acquiring EDS 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.” said Mr Nutley.

Silverdell and EDS recently joined forces to bid successfully to be among the contractors decommissioning Britain’s ageing Magnox nuclear reactors.

“The two businesses offer complementary services that sit side by side on our client’s sites. Magnox is a great example of that,” said a Silverdell spokesman.

Silverdell says EDS will remain in Sheffield and adds that it has bought EDS as part of a plan to grow the whole group,which will mean creating new jobs.

Essex-based Silverdell is paying an initial consideration of £15 million and will pay an additional £3.6 million, depending on the Sheffield firm meeting financial targets. Silverdell is planning to raise £8.81 million by placing new shares on the market.