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06/09/2007
Siteserv Purchases Sierra For €46 million
Construction services firm Siteserv has acquired utilities service provider Sierra Communications Ltd for €46 million (£31 million).
Siteserv has agreed to pay €46 million on completion of the acquisition, out of which €41.4 million will be paid in cash and the remaining share issue at €0.59.
Brian Harvey, chief executive of Siteserv said: “We are delighted with the acquisition of Sierra which is a leader in the provision of utility and infrastructural services in Ireland. The acquisition of Sierra fits within the Siteserv strategy to develop into a broadly based site services group and re-emphasises our plans to grow the company both organically and through acquisitions.”
Sierra provides services to the power, telecommunications and civil engineering markets in Ireland.
It operates four sites at Nangor Road, Dublin 12, Dunboyne, Co Meath, Ballyjamesduff, Co Cavan and Spierstown, Co Donegal.
(CD/SP)
Siteserv has agreed to pay €46 million on completion of the acquisition, out of which €41.4 million will be paid in cash and the remaining share issue at €0.59.
Brian Harvey, chief executive of Siteserv said: “We are delighted with the acquisition of Sierra which is a leader in the provision of utility and infrastructural services in Ireland. The acquisition of Sierra fits within the Siteserv strategy to develop into a broadly based site services group and re-emphasises our plans to grow the company both organically and through acquisitions.”
Sierra provides services to the power, telecommunications and civil engineering markets in Ireland.
It operates four sites at Nangor Road, Dublin 12, Dunboyne, Co Meath, Ballyjamesduff, Co Cavan and Spierstown, Co Donegal.
(CD/SP)
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