Dublin 24th February 2015: Siteserv, a leading infrastructure and utility support service company operating in Ireland, the UK and the Caribbean has announced the acquisition of P.D.C. Utility Services Ltd (PDC), a tower painting and maintenance company 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. The amount of the transaction, which marks the first acquisition by Siteserv Holdings, is undisclosed.
The Industrial Services division of Siteserv has experienced tremendous growth over the past eighteen months with 2014 marking the most successful year in the 47-year history of the company. As well as the significant expansion potential from the acquisition, Siteserv will be in a position to provide its existing customer-base with enhanced service offerings from PDC. Its clients include Phillips 66, Centrica, Ineos, Exxon Mobil, Magnox, Amec and Esso.
“This is an excellent transaction and it makes perfect sense, as there is a close strategic fit between Siteserv’s Industrial Services Division and PDC. It is very much in line with the overall growth strategy for the company,” said Sean Corkery, Chairman and CEO, Siteserv. “Our growth strategy is motivated by the desire to provide our clients, across the Group, with a best-in-class service. The expansion of our service offerings through strategic acquisitions such as this will contribute to this key objective.”
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. Both companies share the same cultural and operational synergies along with geographical footprint and we aim to expand by unlocking untapped potential in new markets,” he said.
The acquisition of PDC is likely to benefit significantly from the backing of the parent company Siteserv. Siteserv provides innovative solutions across its four divisions Industrial Services, Infrastructure, In Home, and Hire & Sales with over 50 strategic sites throughout the UK, Ireland and the Caribbean and is supported by a workforce of over 3,000.
For more information:
Issued on behalf of Siteserv by Heneghan PR
Nigel Heneghan/Eve Noone
Tel: 00 353 1 660 7395