Readypower Rail Services Group Limited is delighted to announce the acquisition of Terrawise Construction Limited. Following the MBO of the Readypower business in February 2017, backed by Primary, a key strategic objective was to expand the service offering to include additional specialist rail services. This acquisition is the start of fulfilling that objective with Terrawise having an excellent reputation for the delivery of specialist foundations and civil engineering projects to the rail and power sectors. The deal will see the existing Terrawise management team of James Crossen, Jamie Burrows and Darren Long remain in the Readypower group and they will continue to run what will become Readypower Terrawise.
Alistair Armstrong, Partner at Primary commented, “It was obvious that there was an excellent strategic and cultural fit between the two businesses from early on in discussions. Terrawise will gain access to the largest, most modern fleet of specialist operated Road Rail Vehicles (RRVs) in the UK, providing its customers with guaranteed security of RRV supply and superior financial strength to undertake larger projects. Readypower’s extensive client base, including Network Rail, will be able to benefit from a much broader, complementary offering of specialist rail services.”
Russell Jack, CEO at Readypower, said of the deal, “Like Readypower, Terrawise has been very successful in delivering outstanding customer service to its rail customers. We look forward to working with the management team at Terrawise to ensure that as an enlarged group, Readypower is well positioned to meet the needs of the rail industry throughout the next infrastructure investment cycle”.
Contact Neil Wallace for more information