‘Ignored’ Siteserv bidder may sue

An international construction services group, which claims its attempts to buy Irish counterpart Siteserv were ignored, is considering lodging a complaint to the Competition Authority if the sale of the company goes through this week.

French-based Altrad has said it was willing to pay €60m for Siteserv, €15m more than has been provisionally accepted from one of Denis O’Brien’s investment firms.

Despite being profitable, generating revenue growth and growing new business, Siteserv — which provides a number of construction services via various brands and subsidiaries — has been struggling under a €145m debt mountain; most of which is owed to the Irish Bank Resolution Corporation (IBRC).