Demolition contractor EDS has been acquired for the sum of £15 million. The buyer is Silverdell, an asbestos contractor who has bought the firm in order to unlock access to a number of international clients. Those clients include Exxon, Pfizer, Rolls Royce, and Shell. But that is just the beginning as EDS already has a presence in Australia, Canada, and China, as well as in the UK.
The seed was planted for an acquisition when both companies shared the work on the Magnox demolition framework contract. Now Silverdell has to find the funds in order to complete the deal, which it intends to do partially by share placing in a bid to raise £8.8 million.
Silverdell has a long history going back to when the company was first formed in 1979. Now, with EDS integrating into their future business, Silverdell hope to win a number of larger contracts in new locations around the world.
Source: Construction Enquirer
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