The deal is thanks to complete this summer time and will see the transfer of around 4,000 workers to the growing Altrad scaffolding and industrial expert services group.

Just eight months ago, €3bn income Altrad snapped up RMD Kwikform in a deal reported to be well worth all over £140m. This observed 1,300 people across main marketplaces of the United kingdom, India, Australia and the UAE join the group.

Altrad Team was started in 1985 by its President Mohed Altrad and is now a single of the world’s main industrial solutions firms concentrating on oil and gas, electricity, method and construction marketplaces, using close to 38,000 folks.

Altrad’s CEO for the British isles, Ireland & Nordics, Padraig Somers, reported: “We are delighted to welcome Doosan Babcock into the Altrad relatives.

“The acquisition represents an exciting chance to extend our portfolio of solutions and enter new marketplaces, even though maximizing the results we produce for our clients”.

In past printed accounts, Doosan Babcock, which operates at significant nuclear assignments like Sellafield and Hinkley Point, claimed earnings of around £260m but endured an working decline of £5m.

Andy Colquhoun, CEO of Doosan Babcock, added: “We are incredibly delighted to be signing up for Altrad and are self-assured our business will be properly-positioned to develop and establish at speed below the new ownership composition.

“We believe that our collective capabilities and shared eyesight and values will be desirable to our consumers, our folks and the communities within which we function.”