Engineering group swoops for rail contractor in £80m deal
Engineering group Renew Holdings has acquired QTS Group, a specialist independent rail contractor based in Scotland, for £80m.
The Leeds-based group also this morning announced a placing to raise £45m to part-fund the acquisition. QTS has a longstanding relationship with Network Rail, operating under long-term framework positions.
AIM-listed Renew said the acquisition would increase Renew’s market share, footprint and specialist positioning in the rail market, a market with high barriers to entry. The acquisition is expecte... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
