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Nuclear acquisition for Renew

1 Feb 16 Engineering services group Renew has taken over Nuclear Decontamination Services Ltd (NDSL), a small specialist nuclear services business operating at Sellafield and at other UK nuclear installations.

NSDL will be absorbed by Renew鈥檚 existing nuclear contracting business, Shepley Engineers.

For the year ended 31st January 2015, NDSL recorded revenue of 拢188,000 and a pre-tax profit of 拢105,000, from which the directors drew 拢82,000 in dividends.

The acquisition cost is expected to be 拢235,000 payable in cash, of which 拢200,000 represents goodwill with the balance representing working capital.

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