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QTS in £80m deal

 

QTS Group, the Lanarkshire rail contractor, has been acquired in an £80m deal.

The company is headed by Alan McLeish who started the company in 1992 with a £300 loan from his mother. It now runs a large fleet of specialised plant and has offices and depots across the UK.

The new owner is engineering services group Renew Holdings which plans to raise £45m to part-fund the deal. It described the purchase as “an excellent fit” with its acquisition strategy.

QTS has a long-standing relationship with Network Rail, operating under long-term framework positions, and is said to be “well positioned” for Control Period 6 on the network where spending will focus on renewal and maintenance.

McLeish (right) said the transaction would provide opportunities to expand market share. He added: “It was important to attract an owner with relevant expertise to support our growth ambitions without compromise to customer service or staff loyalty; the Renew business model fits perfectly with these aspirations.”

Paul Scott, CEO of Renew, commented: “QTS has grown to become a leading and well-respected brand in the rail sector and we very much look forward to supporting its ambition for continued growth including opportunities via collaboration across our expanded range of services in this sector.”

 

 

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Article posted 9/5/2018