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Buyer for Silverdell’s EDS businesses to save 500 jobs

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Facilities management firm OCS has bought certain divisions and assets of Silverdell’s EDS businesses from administrators at BDO.

OCS has acquired the decontamination, access and insulation, and nuclear divisions operated by Silverdell subsidiaries Euro Dismantling Services, EDS Plant Solutions and EDS Group Holdings.

Silverdell, which specialises in providing decontamination and environmental services, acquired power decommissioning specialist EDS Group Holdings for £15m in May 2012.

Shares in Silverdell were suspended from AIM on 2 July 2013, and cancelled on 2 January 2014.

OCS said it was made aware of the opportunity to acquire the EDS divisions and assets on 23 December and worked over Christmas to reach a deal.

The move is expected to save more than 500 UK jobs at Silverdell, OCS said.

The financial terms of the deal have not been disclosed.

OCS Group UK and Europe chief executive Martin Gammon 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,” he added.

OCS said the acquisition would bring skilled people, specialist equipment and relationships with public and private sector clients to the business.

“OCS and Silverdell are already serving the same market sectors and, in some cases, the same clients,” Mr Gammon said.

“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.”

The decommissioning business operated within the Silverdell Group has not been sold to OCS.

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