Babcock, the company charged with decommissioning Britain’s aging nuclear power plants, has bought the Defence Support Group (DSG) for £140m.
DSG is an Ministry of Defence (MoD) unit that repairs and maintains military equipment, and the deal, worth £2bn over ten years, includes Defence Support Group’s contract with the MoD.
In a statement released this morning, Babcock said:
Further to the announcement of 19 November 2014, Babcock confirms it has entered into contracts with the UK Ministry of Defence for the acquisition of the Defence Support Group (DSG) and its associated service provision contract. Through this Babcock will exclusively provide the maintenance, repair, overhaul and storage of a range of current military vehicles and light weapons.
The deal adds to Babcock’s impressive portfolio of existing contracts, with the decommissioning of nuclear plants worth £7bn alone. In September this year Babcock said its order book was worth £18.5bn.