Actavo

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Actavo, formerly Siteserv, [1] is an industrial and engineering services company headquartered in Dublin, Ireland. [2] It has several divisions which provide events management services, modular buildings, scaffolding, fencing, safety equipment and telecommunications networks. [3] [4]

Originally known as Siteserv, the company was acquired by Denis O'Brien in March 2012. [5] The sale of the company was the subject of significant controversy as Irish Bank Resolution Corporation (IBRC, formerly Anglo Irish Bank) wrote-off €119 million owed by Siteserv prior to its sale. [6] [7] A judicial Commission of Inquiry, the IBRC commission of investigation, investigated the circumstances of the sale. [6] The commission's report, published in September 2022, found that Siteserv had provided "misleading and incomplete information" to IBRC. [8]

Described in a 2016 Business Post article as "one of Ireland's most controversial businesses", [9] the company rebranded as Actavo in 2015. [10] As of 2018 Brian Kelly was CEO of Actavo, [11] and it reportedly had approximately 5,000 employees. [12] [13] Following a series of job cuts, [14] this had reduced to approximately 2,000 employees by late 2020. [15] [16]

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References

  1. ↑ "Four former Actavo executives launch legal actions against company". irishtimes.com. Irish Times. 11 January 2020. Retrieved 6 September 2022.
  2. ↑ "Denis O'Brien's Actavo wins Scottishpower meter deal". irishtimes.com. Irish Times. Retrieved 2016-11-24.
  3. ↑ "Actavo UK's £26m loss revealed in late accounts". constructionnews.co.uk. EMAP Publishing Limited. 21 January 2019. Retrieved 6 September 2022.
  4. ↑ "Actavo Direct". fantasticmedia.co.uk. Fantastic Media UK Ltd. 21 December 2017. Retrieved 6 September 2022.
  5. ↑ "Timeline: the Siteserv controversy". irishtimes.com. Irish Times. 29 May 2015. Retrieved 6 September 2022.
  6. 1 2 "Final report on Siteserv sale investigation delivered to Taoiseach". irishtimes.com. Irish Times. 6 August 2022. Retrieved 6 September 2022.
  7. ↑ "Timeline: the Siteserv controversy". irishtimes.com. Irish Times. 29 May 2015. Retrieved 6 September 2022.
  8. ↑ "Siteserv report 'shines a light on unacceptable practices' during sale, Government says". irishtimes.com. Irish Times. Retrieved 7 September 2022.
  9. ↑ "Farewell Siteserv, Hello Actavo". businesspost.ie. Business Post. 27 March 2016. Retrieved 6 September 2022.
  10. ↑ "Siteserv rebrands in €1bn sales drive". thetimes.co.uk. The Times. 18 October 2015. Retrieved 7 September 2022.
  11. ↑ "Forget about Irish Water, Actavo Network's boss says his eye is on breaking America". independent.ie. Independent News & Media. Retrieved 2016-11-24.
  12. ↑ "Denis O'Brien has pumped millions into his Actavo business after swingeing job cuts". fora.ie. 18 January 2018. Retrieved 6 September 2022.
  13. ↑ "Actavo's profit fell to €6.6m in 2020". independent.ie. Independent News & Media. 4 December 2021. Retrieved 6 September 2022.
  14. ↑ "Actavo cuts 1,200 staff in six months". thetimes.co.uk. The Times. 14 January 2018. Retrieved 7 September 2022.
  15. ↑ "Actavo Group Ltd". top1000.ie. Irish Times. Retrieved 6 September 2022. Financial Data [..] 31st Dec 20 [..] Source: CRO [..] 2,140 Employees
  16. ↑ "Pandemic has been no picnic for Actavo". thetimes.co.uk. The Times. 2 August 2020. Retrieved 6 September 2022.
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