Expansion mode at Siteserv as it buys in UK
Irish company Siteserv is expanding through the purchase of PDC Utility Services, a UK-based tower painting and maintenance firm. PDC will form part of its Industrial Services Division (DSL).
The move will give Siteserv the option to offer new services to clients including Esso and Centrica.
"It is very much in line with the overall growth strategy for the company," said Sean Corkery, chief executive and chairman, Siteserv.
"Our growth strategy is motivated by the desire to provide our clients, across the group, with complete end-to-end solutions.
"The expansion of our service offerings through strategic acquisitions such as this will contribute to this key objective," he said.
The value of the transaction, which marks the first acquisition by Siteserv Holdings, is undisclosed.
Michael Bone, managing director of PDC, said: "This deal has come about as a result of detailed negotiations. Siteserv's Industrial Services' blue chip client base complements that of PDC, which includes National Grid, UK Power Networks, Scottish Power, Balfour, Amec and Babcock."
Siteserv employs 3,000 staff with sites throughout the UK, Ireland and the Caribbean. The company is owned by businessman Denis O'Brien's Millington.