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Silverdell PLC (SID)

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Wednesday 20 June, 2012

Silverdell PLC

Completion of Acquisition, New Banking Facilities

RNS Number : 7677F
Silverdell PLC
20 June 2012
 



 

Silverdell PLC

("Silverdell" or the "Group")

 

 

Completion of Acquisition and New Banking Facilities

 

Silverdell PLC (AIM: SID), the Specialist Environmental Support Services group, is pleased to announce it has completed the acquisition of EDS Group Holdings Limited ("EDS").

 

As part of the acquisition the Group has agreed new banking facilities with HSBC Bank plc. The facilities include a revolving credit facility of £5.45 million and a term loan of £3.0 million and have a term of 3 years as well as a £1.0m unsecured overdraft. The new facilities will replace the Group's current banking facilities. EDS has an historic relationship with HSBC Bank plc. The new facilities give the Group reduced overall financing costs, improved covenant terms and a global banking relationship.

 

Sean Nutley, Chief Executive of Silverdell, commented:

 

"I am delighted we have completed the acquisition of EDS. Over the last three years, Silverdell's business has grown successfully from a leading asbestos removal company to a global Specialist Environmental Support Services group and it is this transformation, along with our enhanced banking facilities, which has created significant opportunities for the business. Silverdell can now integrate the hugely specialised decommissioning and dismantling capabilities of EDS to offer a truly unique, end-to-end proposition for the safe removal and management of all kinds of notifiable and industrial waste in highly regulated, highly hazardous environments."

 

 

ENQUIRIES:

Silverdell Plc

Tel: + 44 20 7389 6827

Sean Nutley, Group Chief Executive


Ian Johnson, Group Financial Director




FinnCap

Tel: + 44 20 7220 0500

Marc Young (Corporate Finance)

Ben Thompson (Corporate Finance)


Victoria Bates (Corporate Broking)




College Hill

Tel: + 44 20 7457 2020

Helen Tarbet


Mark Garraway

       



 


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