SID Silverdell

RNS Number:2535B
Silverdell PLC
01 August 2007

1 August 2007


                                 Silverdell Plc
                        ("Silverdell" or the "Company")

                Acquisition of Kitsons Group Limited ("Kitsons")


Silverdell Plc, a leading UK supplier of asbestos contracting and consultancy
services, today announces the acquisition (the "Acquisition") of the entire
issued share capital of Kitsons, a well established industrial asbestos
contracting business, for a total consideration of #14m on a "debt free, cash
free" basis, thereby creating a truly nationwide specialist asbestos services
provider.

The consideration will be satisfied as follows: #4m drawn from an existing
facility with Barclays Bank; #8m from an equity placing of 5.33m new ordinary
shares at 150 pence per share to institutional investors; and #2m to be
satisfied by the issue of 1.33m new ordinary shares at 150 pence per share.  The
new ordinary shares issued in connection with the Acquisition and the placing
will rank pari passu in all respects with the existing ordinary shares and are
expected to be admitted to trading on AIM at 0800 on 1 August 2007. Expenses
relating to the Acquisition will be met from existing cash resources.

The audited accounts of Kitsons Environmental Europe Limited, Kitsons's trading
subsidiary, for the year ended 31 December 2006 show turnover of #18.7m (2005:
#16.6m), EBITDA of #1.7m (2005: #0.8m) and EBIT of #1.5m (2005: #0.6m). The
consideration of #14m payable at completion represents a multiple of 2006 EBITDA
of 8.2.

Kitsons provides asbestos removal, insulation and scaffolding services to the
nuclear, petrochemical and retail sectors, among others. Kitsons's blue chip
customer base includes an oil major, leading UK utilities, major building
contractors as well as local authorities. Kitsons has a 3 year asbestos licence
and a hazardous waste carrying permit as well as ISO 9001, 14001 and 18001
accreditations.  A significant proportion of Kitsons's revenue is underpinned by
long term agreements.

Kitsons has approximately 270 staff and is head quartered in Warrington with
regional offices in Glasgow, Teesside and Birmingham and resident sites at
Aldermaston and Pembroke.

The Acquisition further strengthens the Company's service offering by combining
three leading brands in the asbestos services industry: removal and remediation
in the commercial (Silverdell (UK)) and industrial (Kitsons) sectors; and
asbestos consulting and air monitoring (Redhill Analysts). Following the
Acquisition, Silverdell has achieved its key strategic goal of nationwide
capability which includes a presence in high growth, specialist industrial
sectors such as nuclear.

Kitsons has an experienced operational management team led by Andy Watson, who
will be responsible for the day to day management of Kitsons and for growing and
developing the business.  Peter Dolan, the vendor, will remain with Kitsons on a
consultancy basis.

The integration of Kitsons will commence immediately and the Company should
benefit from a number of cost synergies including the sharing of resources,
combined purchasing power and the local sourcing of labour. The Directors
believe there are also significant cross selling opportunities through
leveraging new and existing customer relationships between the three businesses,
which management of Silverdell intend to focus on particularly.

Danny Spicer, Chief Executive of Silverdell, commented:

"This is a very exciting acquisition for Silverdell as it enhances our
capabilities as the UK's leading, nationwide asbestos services provider as well
as giving us access to high growth, industrial markets.  In addition, the
Company continues to execute on its strategy to consolidate the fragmented
asbestos services market.  Kitsons is an excellent business with exciting growth
prospects and we look forward to welcoming its staff into the business."





                                    - Ends -



For further information, please contact:


Chris Sims, FD, Silverdell                                                          020 7004 2700
Chris Howard, Ellen Francis, Collins Stewart Europe Limited                         020 7523 8317
Jonathon Brill, Billy Clegg, Financial Dynamics                                     020 7831 3113





Notes to Editors



Silverdell is a leading nationwide supplier of asbestos removal and consultancy
services to both the private and public sectors. The Company was initially
listed on AIM as Bow Lane Capital Plc in April 2006.  In July 2006 it acquired
Silverdell (UK) Limited for up to #22.2m, following which it changed its name to
Silverdell Plc.  The Company acquired Redhill Analysts Limited, a provider of
asbestos consultancy, survey, air monitoring and contract management services,
in December 2006 for up to #10m.



Silverdell employs nearly 600 staff operating from 15 offices across the UK.
Silverdell (UK) Limited won Specialist Contractor of the Year (Asbestos Removal)
at Construction News Awards in both 2006 and 2007.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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