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Nuclear-services business acquired

Posted on 14 Feb 2016 and read 2684 times
Nuclear-services business acquiredA Cumbrian nuclear-services business has been acquired by a listed engineering group. Nuclear Decontamination Services Ltd (NDSL), which operates at Sellafield and other UK nuclear installations, has been bought by Leeds-based Renew for £235,000. Shepley Engineers subsidiary (under the Renew banner) will absorb the business. For the year to 31 January 2015, NDSL reported revenues of £188,000 and pre-tax profits of £105,000.

The acquisition enhances Shepley’s ability to deliver on the recently awarded 10-year, £500 million Decommissioning Delivery Partnership framework for Sellafield.

Renew has been steadily making strategic acquisitions; PPS Electrical was bought in 2006 and Mothersill Engineering Ltd in 2009. Renew announced record results for the year to September, with profits of £19.6 million on revenues of £500 million.