Authority approves Siteserv purchase

SITESERV, the Dublin-based building site services provider, has gained Competition Authority approval for its previously announced acquisition of utilities services provider, Sierra Communications.

The €46 million deal was announced in September and has been funded through Siteserv’s existing resources and additional borrowings.

In the year to the end of June, Sierra generated a turnover of €52.3m and earnings before interest and tax of €7m.