OCS, the UK-based total facilities management provider with global revenues of 840m GBP, has acquired certain business and assets of Euro Dismantling Services, EDS Plant Solutions and EDS Group Holdings (subsidiaries of Silverdell plc) from Joint Administrators at BDO. The acquired business units comprise the Decontamination, Access & Insulation and Nuclear trading divisions operated by EDS.
The move by OCS will save over 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.
According to regulatory news filings with London Stock Exchange, Silverdell encountered financial problems when a subsidiary went into administration in summer 2013.
OCS was made aware of the opportunity on 23 December and worked over Christmas to undertake due diligence and close the deal. Financial terms were not disclosed.
“The specialist services provided by the acquired business units will complement our core facilities management offering” said Martin Gammon, chief executive officer for OCS Group UK and Europe. “This acquisition once again demonstrates our unique ability to move swiftly to secure deals in distressed circumstances.”
Silverdell is a well-regarded provider in the demanding, regulated environmental services sector and the acquired business brings a combination of highly skilled people, specialist equipment and strong client relationships, including a number of public sector and blue chip organisations.
“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” said Martin Gammon.
Shares in Silverdell Plc. were suspended from AIM on 2 July 2013 and cancelled on 2 January 2014. When the shares were suspended in July, Silverdell Plc was valued at over 40M GBP.
The Decommissioning business operated within the Silverdell Group has not been sold to OCS.
About OCS Group
OCS Group is an international total facilities management (TFM) provider with more than 85,000 staff managing services in 40 countries worldwide, with a turnover in excess of 840 million (GBP).
The company offers more than 70 individual services from catering, cleaning, horticulture and waste management to security, maintenance and hygiene. These services can be delivered individually or as part of a fully-integrated FM solution. OCS manages and delivers services to organisations across the public and private sector.
As a private business in the fifth-generation of family ownership, OCS believes in sustainable solutions. Its maxim Here Today, Here Tomorrow reflects the delivery of sustainable solutions to facilities management problems which are sustainable in financial, human, community and environmental terms. Its core values define what it believes in as an organisation. OCS puts customers first; fosters a ‘can do’ attitude; builds strong relationships; recognises wider responsibilities; promotes change and innovation; and provides great value.
OCS takes an active role in the facilities management community as members of the British Institute of Facilities Management, the Business Services Association, the Facilities Management Association and the Cleaning and Support Services Association.
For more information, contact:
07957 321012 or 0870 420 3539
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