Environmental support services group Silverdell has completed its £19 million acquisition of Sheffield-based award-winning international plant dismantling and decommissioning specialist EDS Group Holdings.
Essex-based Silverdell said at the time of the takeover that EDS would remain in Sheffield and that it has bought the company as part of a plan to grow the whole group, which would mean creating new jobs.
As part of the acquisition the Group has agreed new banking facilities with HSBC Bank, which has a long-standing relationship with EDS.
The deal includes a £5.45m revolving credit facility, a £3.0m three year loan and a £1m unsecured overdraft, which will replace Silverdell’s current banking facilities.
Silverdell chief executive Sean Nutley said: “I am delighted we have completed the acquisition of EDS.
“Over the last three years, Silverdell’s business has grown successfully from a leading asbestos removal company to a global specialist environmental support services group and it is this transformation, along with our enhanced banking facilities, which has created significant opportunities for the business.
“Silverdell can now integrate the hugely specialised decommissioning and dismantling capabilities of EDS to offer a truly unique, end-to-end proposition.”