British engineering attracting foreign investment despite slow economy
We and Five Corporate Finance have acted on the sale of Rail Door Solutions Ltd, a Milton Keynes-based rail engineering company, to Gebr. Bode GmbH & Co. KG.
Bode is a subsidiary of Frankfurt-listed Schaltbau Holding AG, a leading German transport company.
The purchase of Rail Door Solutions (RDS) will be undertaken in a number of stages with Bode progressively increasing its shareholding in RDS to 100%. The two parties agreed not to disclose the purchase price.
RDS is a well-established British engineering company in the rail sector, catering primarily for customers in the UK and Ireland. With a turnover of over £6 million last year and 59 employees the company is active in the design, installation and maintenance of door systems for trains. It is planning to expand its service offerings to buses in the near future.
Bode manufactures and services door systems and sliding door gear for buses, trams and trains. Its parent company, the Schaltbau group, is a leading global supplier of transport technology with annual sales of over €315 million and 1,700 staff.
Comments Paul Bevington, Principal at EMW: “By purchasing RDS, Bode is securing itself a stronghold in the UK and Irish market for high-end transport technology, with exciting growth prospects due to the plans to expand into the bus market. We are delighted to have represented a business like RDS that stands for the best of British technological expertise.”
Says Jeremy Sprigg, Managing Director of RDS: “RDS is a financially robust company with a strong market share in vehicle door systems in the UK and Ireland. We are delighted to partner with Bode and the Schaltbau group, supporting their international expansion strategy and our own plans to expand our activity in the bus market.”
Oliver Wright, Partner at Five Corporate Finance, who brokered the deal, comments: “The sale of RDS to a German company shows how British companies are able to attract foreign investment into the UK despite the slow economy. It is also the proof that British engineering skills are still alive and kicking, which is something we should be proud of.”
© EMW 2012