North-East law firm Ward Hadaway has closed a deal for Swedish nuclear technology firm Studsvik on its acquisition of Newcastle-based Environmental Remediation Services Ltd (ERS).
Stockholm Stock Exchange-listed Studsvik, a service provider to the nuclear industry, bought the Newcastle firm in a bid to strengthen its position in the UK.
Studsvik has over 50 years' experience in the nuclear industry, with 1,300 employees in seven countries.
The acquisition of ERS follows similar transactions across Europe and North America, and forms part of Studsvik's strategic growth plan.
Following the Government's formation of the Nuclear Decomissioning Authority and the identification of a considerable market taking shape for the decommissioning of nuclear plants, the UK nuclear market is a potential area of significant growth.
ERS, renamed Studsvik UK as part of the deal, is an independent consultancy.
It specialises in waste management, decommissioning and radiological protection services to nuclear facilities, operating primarily in the UK.
The company will be integrated into Studsvik over the coming months.
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