Member Article

500 jobs saved as Sheffield’s EDS brought out of administration

Irwin Mitchell, has advised on a major restructuring deal which has saved more than 500 jobs at Sheffield-based EDS Group.

International facilities management provider OCS Group, which is headquartered in Crawley, has acquired businesses and assets of Silverdell subsidiaries Euro Dismantling Services, EDS Plant Solutions and EDS Group Holdings from administrators at BDO.

The acquired business and assets comprise the decontamination, access and insulation and nuclear trading divisions operated by Sheffield-based EDS.

The decommissioning business operated within the Silverdell Group has not been sold to OCS.

Demolition group Silverdell’s shares were suspended on AIM in July and the company was delisted on the 2 January.

The business is reported to have suffered financial difficulties after a subsidiary went into administration during the summer.

The Irwin Mitchell team was multi-disciplinary, led by corporate partner Andrew Woolf, assisted by Chris D’Este Hoare and Harriet Clarke and with associates John Arey and Louise Cartwright, advising on real estate aspects.

Associate Chris Tutton advised on employment issues, David Egan, partner on Health and Safety issues and Restructuring and Recovery partner, Andrew Walker on insolvency.

Andrew Woolf said: “We are delighted to have advised on this deal which will enable OCS to provide clients with a single point of contact to help manage their assets and environment from a broader set of associated services.

“Additionally, and no less importantly, it will save a considerable number of jobs.”

This was posted in Bdaily's Members' News section by Clare Burnett .