Angel Trains acquires Readypower Group
London, 31st January: Angel Trains Ltd has announced the acquisition of specialist rail and infrastructure services provider, Readypower Group.
Readypower provides specialised on-track plant 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.
Readypower operates from six major hubs around the UK and is already supporting vital rail infrastructure improvement projects to help level up the country. These include the TransPennine route upgrades, Midland Mainline electrification and the Core Valley Lines transformation project in Wales.
Malcolm Brown, CEO of Angel Trains, said: “Angel Trains and Readypower are very complementary businesses with a singular focus on supporting the UK rail network. We are both committed to the success of the UK rail industry and by working together, we know we can make real progress in improving the system for passengers and freight across the country.
“We bring a wealth of understanding and experience of managing rail assets and believe we can help Readypower to realise its full potential in the years ahead.”
Angel Trains will support Readypower’s growth by investing in the latest machinery and technology to support critical rail assets, developing sustainable solutions for the future.
Russell Jack, CEO of Readypower Group, added: “Angel Trains is a very welcome partner for our business. They take a long-term view, which will bring stability and investment at just the right time. It is an excellent deal for the industry to see a company like Angel Trains looking to invest and diversify further into the UK rail market. I look forward to working with Angel Trains to continue to grow and expand the business.”
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About Angel Trains:
Angel Trains is one of Britain’s leading rolling stock asset managers and has been an owner and lessor of rolling stock since 1994. The company leases to 15 operators and two open access operators in the UK. Angel Trains is passionate about delivering high quality, modern assets to its customers and is committed to working with the Government, the Rail Delivery Group and other industry stakeholders to provide innovative and sustainable funding solutions to modernise and improve the UK’s rolling stock fleet. Angel Trains has invested £5 billion in new rolling stock and refurbishment programmes since 1994 and is one of the largest private investors in the industry.
About Readypower Group:
Readypower Group is the UK’s leading Specialist Rail Operated Asset & Infrastructure Services provider. With three operating companies, the group provides specialist civil engineering services, and the most modern diverse hire fleet of operated Road Rail Vehicles (RRVs) and associated services. We also own and operate a fleet of bespoke specialist rail drainage clearing machines provided with skilled operatives.
Since a PE backed management buy out in 2017, Readypower Group have invested around £30m in the RRV fleet and made three acquisitions. The focus of the business is to provide an outstanding standard of customer service and reliability and conduct all of our operations in a safe and sustainable way. We invest in people, assets, geographical locations, IT systems and processes to achieve this and we have ambition to continue to grow further supporting our clients in the UK rail market.