Silverdell in conditional acquisition of EDS
Silverdell intends to buy EDS.
Silverdell has revealed it has conditionally agreed to purchase all of EDS Group Holding's issued share capital.
This transaction could be supported by merger and acquisition advisors and has a total value of £15 million, with another £3.6 million in deferred consideration, subject to EDS' completion of certain financial goals.
If the deal goes ahead, it will result in the creation of a specialist environmental support services organisation with a global scale and reach, speeding up Silverdell's intended expansion into Australasian and Canadian markets.
Furthermore, the enlarged corporation should be better placed to win large framework contracts with a number of multinational companies.
It is expected to enhance the firm's earnings immediately and is described as a "transformational acquisition".
"EDS has an established working relationship with Silverdell, a complementary culture and serves an attractive market niche to which Silverdell does not currently have significant exposure," Silverdell claimed.
As of 15:00 BST on May 30th, Silverdell had a share price of 11.05p.
Posted by Ron Maverick
Source: Silverdell press release, May 30th