“This also rationalises all of our stock, the Contur scaffolding is even more flexible and secure, allowing us to design better bespoke systems for our clients, whatever the size or shape of the building or facility.”
“We are still able to design and erect ‘tube and fitting’ scaffolding where it is needed but the larger projects – particularly working at greater heights – are better suited to system scaffolding.”
NSG was acquired by Montpelier France, based scaffold producer Altrad last June.
Via: Virtikal.net U.K. Edition
The companies being sold are Deborah, Sierra Communications (which now incorporates Holgate’s business), Easy Access, Donohoe Scaffolding, Rent-a-Fence, Roankabin Holdings and Eventserv.
The operations are being bought by an acquisition vehicle called Millington set-up by entrepreneur Denis O’Brien for the deal.
The companies had a turnover of £140m for the year to April 30 2011 and made an operating profit of £7m.
More than 2,300 people are employed by Siteserv across the UK and Ireland.
O’Brien said: “I believe that Siteserv – with a workforce of over 2,300 – has the potential to grow and develop geographically in many countries.
“Siteserv has an excellent track record of winning new business and growing revenues in a competitive market.
“Our investment demonstrates our commitment to growing the business into the future, supporting its existing customer base, employees and expanding further in its core markets.
“We believe the team has a great opportunity to capture growth opportunities in the future”.
The completed deal will see Sitserv wound down as a publicly quoted company and any proceeds left after its debts are paid will go to shareholders.
Siteserv said only £4m would be left from the sale for shareholders after its debts were settled.
The company confirmed to the Stock Exchange today that its current debt levels were “unsustainable”.
Siteserv said: “Following completion, the Group will not have any revenue generating operating businesses.
“The Board has determined that it is in the best interests of Shareholders as a whole to return the net proceeds of the Proposed Disposal to Shareholders as efficiently and expediently as possible and to wind up the Company to facilitate the distributions to the Shareholders in a tax efficient manner.”
The Siteserv name will retained but Siteserv plc will no longer exist.
Brian Harvey, Chief Executive, Siteserv said: “We are delighted with the partnership we have built with our new partner and we believe that this will enable us to consolidate and strengthen the ambitions of Siteserv in Ireland, the United Kingdom and Internationally, both through organic growth and acquisitions.
“In addition I believe teaming up with a new partner will provide security and strength to our balance sheet and in turn provide confidence to customers and employees alike. We believe the team has a great opportunity to capture growth opportunities in the future”.
Via: 
The company has acquired the equity stake in Hong Kong Fuji Technology (HFT) for HK$58m (£4.75m). HFT provides thermal insulation, painting, grit blasting and scaffolding services to the power industry.
Cape said the deal marks its entry into a “new geography” within the Far East and Pacific Rim. Chief executive Martin May added: “The acquisition of HFT presents an exciting entry into a strategically important market.
“This is a key step which provides a springboard for Cape’s future expansion into Greater China. We see great potential for Cape in this venture and warmly welcome the HFT team, who share Cape’s commitment to safety, reliability and timely delivery, into the group.”
HFT was founded in 1993 and employs more than 130 staff. It is expected to report a turnover of HK$87m (£7.13m) in 2012.
Via: 
Part of a wall at the site of the former Thompson Mill, in Tetley Street, Bradford, which was destroyed by fire last October, collapsed yesterday, bringing down scaffolding along with it.
The emergency services were called to the site at about 6.30pm after the wall and scaffolding came down.
Mark Rogerson, watch commander at Bradford fire station, said crews used thermal imaging cameras and a sniffer dog to make sure there was nobody trapped under the rubble.
He said: “The building itself is down, but they left up the external walls which go around the outside of the site and around the outside of that was the scaffolding which they had been using.”
Mr Rogerson said it was not yet known what caused the 20ft by 40ft section of the wall to collapse.
A West Yorkshire Police spokesman said a nearby window was smashed by a piece of the scaffolding, which was about three floors high.
Via: