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OCS rescues EDS businesses from Silverdell

17 Jan 14 Facilities management company OCS has acquired certain business and assets of Euro Dismantling Services, EDS Plant Solutions and EDS Group Holdings from the administrators of parent company Silverdell.

The acquired business units comprise the decontamination, access & insulation and nuclear trading divisions operated by EDS, but not the decommissioning business.

Financial terms were not disclosed.

OCS said that the deal would save more than 500 UK jobs in Silverdell, which specialises in providing decontamination and environmental services such as asbestos removal and other decontamination work in high hazard areas and nuclear sites.

Silverdell hit problems when a subsidiary went into administration in summer 2013. Shares in Silverdell were suspended from AIM on 2 July 2013 and cancelled on 2 January 2014. When the shares were suspended in July, Silverdell was valued at £40m.

Silverdell had only just acquired EDS in 2012.

OCS Group chief executive officer Martin Gammon said: “OCS and Silverdell are already serving the same market sectors and, in some cases, the same clients. 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.”

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