30.07.14
Torrent Trackside buys Balfour Beatty’s rail plant hire business
Balfour Beatty Rail has sold its trackside plant and equipment rail business to Vp plc, which owns Torrent Trackside, for £5.5m.
Jeremy Pilkington, chairman of Vp plc, said: “This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector.”
The company said: “The TP&E rail equipment rental activity operates from a number of locations in the south east of England and will be integrated into Torrent Trackside, Vp's specialist rail business. The acquisition includes a five-year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.”
Vp plc also owns Airpac Bukom Oilfield Services, Groundforce, Hire Station, TPA, and UK Forks.
Balfour Beatty Rail said it will continue to operate the core of its rail plant business, which includes track geometry services, road rail vehicles, specialist plant services, rail grinding and seasonal treatment works.
Mark Bullock, managing director of Balfour Beatty Rail, said: “Following a strategic review of the way in which Balfour Beatty Rail procures its small tools, plant and equipment, a decision was taken to sell the TP&E business. We remain very much committed to UK rail plant market and will continue to provide our customers with a complete range of high quality track geometry, road rail and specialist rail plant services. We look forward to working with Torrent Trackside as a strong supply chain partner for all our trackside plant and equipment hire requirements.”
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