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Silverdell 'transformed' by EDS acquisition

5 Dec 12 Environmental services contractor Silverdell has restructured following its acquisition earlier this year of decommissioning specialist EDS.

Chairman Stuart Doughty
Chairman Stuart Doughty

The two UK asbestos remediation businesses, Silverdell UK and Kitsons Environmental Europe, have been brought together as single remediation division under managing director John Potts.

Darren Palin, managing director of EDS Group, is now managing director of Silverdell’s decommissioning division.

A third division, consultancy business Redhills, is led by Matt Griggs and is targeting Canada for growth.

The May acquisition of EDS, formerly Euro Decommissioning Solutions, boosted Silverdell’s financial results for the year to 30 September 2012. Revenue was up 38% to £82.5m (2011: £59.7m). Gross profit was up 27% at £20.4m and adjusted EBITDA was up 51% to £6.2m (2011: £4.1m).

The order book stood at £219m at 31st October 2012 – more than double what it was a year previously - and £97m of it is scheduled to be banked in 2013.

Chairman Stuart Doughty said: "This has been a transformational year for Silverdell. We have acquired and are in the process of integrating EDS, secured significant new contracts, and streamlined and strengthened our management structure to give us an international platform for the future.”

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