12.10.2009

Harsco expands in UK

Harsco, owner of SGB, Hünnebeck and Patent Scaffold has acquired Nicol UK a scaffold, insulation and site services company which serves the energy, industrial and petrochemical industries.

Nicol UK which recently changed its corporate name to Newlincs Services Ltd, had revenues last year of around $25 million (£15.5 million) and is owned by its managers, including Colin Hill, Christian Drant, Barry Staley and Shaun Greaves. Terms of the deal were not disclosed.

Harsco chief executive Salvatore D. Fazzolari said: “The UK industrial sector has remained relatively buoyant throughout the economic downturn, reflecting ongoing, recurring investment in plant maintenance and essential upkeep. Expanding our capabilities to be a more complete, one-stop service provider will enhance our value to this sector’s many large, blue chip clients,”

The acquisition is expected to be accretive to Harsco’s earnings within its first year. No details were released as to whether the business will be integrated with SGB or remain a stand alone business.