Defence and support services companyVT Group
has agreed to acquire nuclear services specialists British Nuclear Group Project Services fromBritish Nuclear Group
The acquisition, scheduled to complete next month, is worth £45m, but could increase by up to another £30m depending on the company’s profitability.
Project Services provides nuclear decommissioning services in the
VT Group chief executive Paul Lester said: ‘Project Services is highly regarded as a leading provider of nuclear decommissioning and waste treatment engineering services. The acquisition provides VT with entry to a new market where our core competencies in engineering services and the management of critical assets for government customers are well suited.'