Primary Capital Partners is pleased to announce the sale of specialist rail and infrastructure services provider, Readypower Group, to Angel Trains. The transaction value is undisclosed.
Readypower provides specialised on-track equipment as well as civil engineering, drainage, haulage and operating services to the UK rail sector. It plays a critical role in helping to modernise the UK’s rail network as electrification and upgrades continue throughout the country. The deal cements Angel Trains’ commitment to investing in rail assets in the UK. Readypower will continue to run as an independent business, with its brand and management team remaining in place.
Primary Capital acquired Readypower from its founders in 2017. Since then, the business has expanded from one operating hub in the South of England to six strategically located hubs across the UK. Over the last five years, Readypower has invested around £30m in its Road-Rail Vehicle fleet and made three acquisitions.
Alistair Armstrong, who led the original deal for Primary and represented its interests throughout the period of the investment, commented; “Readypower has proved an excellent investment for us. Its experienced executive management team has ensured the business remains relentlessly focused on delivering exceptional customer service whilst investing in all the right areas to deliver outstanding growth. We are delighted with the successful outcome and proud to have been associated with Readypower’s journey to become the UK market leader in this critical area of infrastructure services. We wish everyone involved with Readypower all the best for the future.”
Russell Jack, CEO of Readypower, added; “Primary have proven to be excellent partners for the Readypower business over the past few years. They fully committed to our strategic development plans from the outset and backed us in all our initiatives and objectives. We thank them for their support and wish them well for the future as we embark on the next stage of our growth.”
Alantra (Steve Currie, Robert Young, Robert Pearce and Ollie Hickley) advised and led the process for the shareholders. Angel Trains were advised by Investec.
Contact Neil Wallace for more information