Following negotiations that have been taking place over the last few months, the Gravatom shareholders have agreed terms for the sale of Gravatom Engineering Systems Ltd to the ONET Group, the €1.2bn corporate services company based in France with headquarters in Marseille.

Under the deal, Gravatom becomes part of ONET Technologies, the leader in France in the nuclear decommissioning market, No. 2 after AREVA in reactor maintenance and a division of ONET Group. For the foreseeable future, Gravatom will remain as a separate company.

The acquisition is fantastic news for Gravatom and its customers. ONET Technologies has a turnover of €167m and employs more than 2,000 people across Europe. It is a highly respected, progressive company committed to strengthening Gravatom’s position in the UK.

Becoming part of ONET Technologies will drive our business forward internationally, allowing us to exploit opportunities in new build and nuclear decommissioning as well as in nuclear medicine and contract manufacturing.

Gravatom’s specialist expertise complements ONET’s portfolio perfectly. This will create opportunities and added-value for all customers and partners. The financial backing of ONET will also enable Gravatom to tender for much larger contracts.