Ad
Thursday, September 25, 2025
17.7 C
London

The Voice of Scaffolding Since 2008  U.K. Edition

Deborah Services Sold To Entrepreneur in £40m Deal

- Advertisement -

 

Siteserv is being sold in a deal which will see its infrastructure business including scaffolding arm Deborah Services get new owners.

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: www.constructionenquirer.com

- Advertisement -

Popular Categories

Latest Magazine

Most Read This Week

Scaffolding work pipeline shrinks as construction starts drop 22%

Construction project starts have collapsed 22% with contract awards...

AT-PAC accelerates European expansion with strategic German launch

Scaffolding specialist establishes key operations in Germany as part...

Scaffolding industry celebrates at Manchester awards night

The UK scaffolding and access industry gathered in Manchester...

ScaffEx25 sets new attendance record in Manchester

ScaffEx25 has smashed previous records, drawing nearly 2,400 visitors...

Scottish scaffolding apprentices to compete at ScaffChamp 2026

A team of young scaffolders from Scotland and Northern...

Related Articles

Scaffolding makes historic debut at WorldSkills Ireland 2025

Young scaffolders showcase their expertise as the trade is included in the prestigious competition for the first time Scaffolding has been included in WorldSkills Ireland for the first time, marking a significant milestone for...
- Advertisements -

Latest Topics

Scaffolders voted UK’s toughest trade

Scaffolders have been crowned the UK’s toughest trade by...

Company fined after worker dies in six-foot scaffold fall

A Lancashire sign-fitting company and its director have been...

ScaffEx25 sets new attendance record in Manchester

ScaffEx25 has smashed previous records, drawing nearly 2,400 visitors...

Scaffolding makes historic debut at WorldSkills Ireland 2025

Young scaffolders showcase their expertise as the trade is...
- Advertisement -