Construction News

07/09/2007

Construction Services Firm Buys Sierra

Construction services company Siteserv has bought the utilities services provider Sierra Communications for €46 million.

It is understood €4.6m will be payable in shares with additional amounts up to €6m payable based on Sierra’s performance over the next three years.

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Sierra operates four sites throughout Ireland; at Nangor Road, Dublin 12, Dunboyne, Co Meath, Ballyjamesduff, Co Cavan and Spierstown, CO Donegal. It is a provider of services to the power, telecommunications and civil engineering markets in Ireland.

Brian Harvey, CEO of Siteserv, said: “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.”

(JM/SP)

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