Ad
Friday, August 1, 2025
17.6 C
London

The Voice of Scaffolding Since 2008  |  U.K. Edition

Interserve sells Scaffolding and Painting Division

- Advertisement -

Interserve has entered into an agreement to sell its industrial scaffolding and hard services business for £3.6m to Enigma Industrial Services Holdings Ltd.

The division being sold provides scaffolding services to housebuilders and other contractors as well as its SIP (Scaffolding, Insulation & Painting) services to large industrial sites.

Interserve says the £3.6 million purchase price is payable upon completion with the potential for a further cash injection of £1 million subject to the Business achieving certain financing targets for the financial years 2018 and 2019. The money from the sale will be used to reduce Interserve’s debt.

For the year ended 31st December 2017, Interserve Industrial Services Limited (IISL) reported an operating loss of £4m and had gross assets of £47.3m. The transaction will result in a loss on disposal of £8.4m for Interserve.

Together with the closure of IISL power activities earlier this year, this sale concludes Interserve’s exit from its industrial contracting activities.

Managing Director Scott Hardie holds on to his position and will continue to lead the business.

Debbie White, Chief Executive Officer at Interserve said:

“We are pleased to announce the sale of the access and hard services business as part of Interserve’s strategy to focus on core customer segments.”

 

 

 

- Advertisement -

Popular Categories

Most Read >

TG30 Update Drives Surge in Scaffold Compliance Downloads

The National Access and Scaffolding Confederation (NASC) has seen...

New Zealand to Ease Scaffolding Rules on Construction Sites

New Zealand is set to overhaul its scaffolding regulations...

New PERI UP Stair System Launched in UK After Global Debut

PERI’s latest addition to its scaffolding range, the PERI...

Scaffolding Industry Mourns the Loss of Founding Leader David Spice

Christchurch, New Zealand — The scaffolding community across New...

U.S Scaffolding Industry Leaders Sign Safety Pact

Two leading American safety organisations have announced a formal...
- Advertisements -

Related Articles >

Sheffield scaffolding firm secures £250,000 boost to fuel Yorkshire expansion

A family-run scaffolding firm in Sheffield has received a £250,000 funding boost to support its continued growth following the acquisition of a Barnsley-based business. Hi-Point Access, which has doubled its turnover since 2021, has...

Latest Topics

Scaffolding Association Joins Build UK to Boost Industry Voice

The Scaffolding Association has formally joined Build UK as...

ScaffCycle Launches to Help Firms Trade Surplus Scaffold

A new online platform designed to help scaffolding companies...

U.S Scaffolding Industry Leaders Sign Safety Pact

Two leading American safety organisations have announced a formal...

New PERI UP Stair System Launched in UK After Global Debut

PERI’s latest addition to its scaffolding range, the PERI...
- Advertisement -