90 new jobs at Sierra Support Services

SIERRA Support Services, owned by Siteserv and based in Dublin, is to create 90 jobs after securing a multimillion-euro contract with Bord Gáis.

The €60 million three-year deal will involve the installation, maintenance and testing of domestic boilers.

The option remains to extend the contract for another two years, bringing the value to €100 million.

TJ Malone, Sierra Support Services managing director, said it was a significant contract for the firm.

“We are delighted to have been selected by Bord Gáis Energy as they grow their home energy services market,” he said.

“This is a significant contract for Sierra and an important step in our strategy for growth.”

Sierra will incorporate the existing Bord Gáis energy services into a new division which will initially employ 20 new full-time staff in management and administration.

The company will also create a further 70 building jobs over the next year.

Separately, Sierra will also expand its services into Northern Ireland with the opening of a new office.

Sierra is a leading services provider to the telecommunications, power and energy, and civil engineering sectors.

Goodbody analyst David O’Brien noted that in December the company was selected as the preferred bidder for the Bord Gáis Home Energy contract. Mr O’Brien believes there is also the potential to extend it for a further two years which would bring the total contract value to €100m.

“To put this into context, we have Siteserv’s revenues at circa €150m for the 12 months to the end of April 10. Furthermore, such a contract increases the proportion of revenues that will come from recurring income streams, thereby decreasing the cyclicality of the business as a whole,” he said.