Siteserv in expansion mode as it buys PDC in UK
UTILITY and infrastructure firm Siteserv is expanding through the purchase of PDC Utility Services, a tower painting and maintenance firm in the UK.
PDC will form part of its Industrial Services Division (DSL) which is a market leader in multi-disciplinary solutions across a range of industrial sectors.
And the move will give Siteserv the option to offer new services to a range of its 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.”
Aside from the expansion potential of the acquisition, Siteserv will be in a position to provide its existing customer-base such as Phillips 66, Centrica, Ineos, Exxon Mobil, Magnox, Amec and Esso with enhanced service offerings from PDC, it added.
The amount 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 provides innovative solutions across four divisions including industrial services and infrastructure with over 50 strategic sites throughout the UK, Ireland and the Caribbean and is supported by a workforce of over 3,000.
The company is owned by businessman Denis O'Brien's Millington.