Livingstone’s Business Services sector team has advised the shareholders on the sale of KDC, the UK’s leading specialist provider of decommissioning services to assets in high consequence, regulated environments, to Veolia UK. KDC holds the #1 position in the UK’s Nuclear, Pharmaceutical and Utilities markets and has a strong presence in specific niches in the specialist regulated Petrochemical and Energy sectors.
The company delivers unique end-of-life asset service solutions from initial planning and assessment, through to decontamination, decommissioning and demolition and the subsequent remediation of site land. The business was the subject of a management buy-out led by seasoned Nuclear industry CEO Ian Smithson in 2008 backed by then Barclays Ventures. Veolia Group is the global leader in optimised resource management.
Veolia UK is the leader in environmental solutions, providing a comprehensive range of waste, water and energy management services designed to build the circular economy and preserve scarce raw materials. With nearly 169,000 employees worldwide, Veolia Group designs and provides solutions that contribute to the sustainable development of communities and industries.
Listed on the Paris Euronext market, the Group reported revenues of $30.1bn in 2017. KDC is being acquired into Veolia’s Energy, Waste & Water division which already has a large and growing offshore Oil and Gas asset decommissioning activity and an established presence in the Nuclear industry. The addition of KDC’s onshore decommissioning expertise will provide additional capabilities as Veolia looks to grow this activity to meet demand.
Kevin Hurst, Chief Operating Officer for Industrial Customers at Veolia, commented: “The strategic integration of KDC will expand our onshore and offshore decommissioning, technical demolition and land remediation capabilities. It will enable us to deliver more innovative solutions, and build the circular economy by realising the financial and environmental value of these materials.”
Peter Higton, Chairman at KDC, added: “I am very pleased that we have completed this transaction, which will both secure a good future for the management and employees of KDC in the next stage of its development, and provide Veolia with an excellent extension to their service offering and considerable synergies between the two organisations. Thanks to the team at Livingstone for their support in this complex transaction.”
Alex John, Partner at Livingstone, concluded: “We are delighted to have found a strategic home for KDC that will enable the team to develop its market-leading capabilities onto a larger international stage and into the offshore commissioning market. The company has an exceptional track record for the safe delivery of their specialised solutions in extremely challenging, complex and intensively-regulated environments and the expertise, systems and processes underpinning these high standards were a key factor behind Veolia’s interest.”