Tue, 14 Jan 2025 | BUSINESS SALE
Swietelsky AG, one of the leading European construction companies in the rail infrastructure sector, has bought 100 per cent of the shares of UK-based Harry Needle Railroad Company Ltd (HNRC).
Founded in 1998, HNRC, with headquarters in Worksop and another facility in Barrow Hill, is one of the most renowned providers of maintenance, repair and rental services for locomotives and rail vehicles.
The company operates a state-of-the-art multi-purpose facility for rail services on a 14-hectare site in Worksop and employs more than 30 people. In the 2023/2024 financial year, HNRC achieved an operating performance of around €9 million (£7.5 million).
With the takeover, Swietelsky is expanding its portfolio in Great Britain to include key areas such as locomotive repairs, fleet management and track rental.
"This strategic step not only enables us to expand our market position in the area of Operate & Maintain contracts for Network Rail, but also to significantly increase our capacities for machine overhauls and future innovations such as the conversion of rail vehicles to European train protection systems," explained Peter Krammer, CEO of Swietelsky AG. "The synergies between our existing business areas and the competencies of HNRC offer an excellent basis for sustainable growth and the development of new business areas."
Main funder Frontier Development Capital will exit its investment in HNRC as a result of the deal.
HNRC was created by former paratrooper Harry Needle. He started out recovering spares from redundant rolling stock and went on to acquire a fleet of locomotives for hire. In 2019, with backing from FDC it acquired the derelict former rail depot in Worksop and invested £8 million to convert it into a complete operations centre.
Jack Glonek, investment director at FDC whose investment in Harry Needle came from its Rail Supply Growth Fund, said: “Harry Needle Railroad Company was already successful but with the acquisition of the Worksop site, it began a new era that saw it become a leader in its field. It has been a privilege working with Harry and his team, supporting them with multiple investments and watching the business go from strength to strength.”
Find out why more PE firms are looking to exit
The wholesale business has an established trading history and has built up a strong reputation and a loyal customer base. Business is drawn from a wide demographic of clients with a good spread across different business sectors.
This is a unique opportunity to acquire a company specialising in luxury performance cycle clothing, utilising the finest specialist fabrics and cutting-edge construction techniques.
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
11
|
Jul
|
Holiday letting agency acquires Cornish self-catering holiday specialist | BUSINESS SALE
Travel Chapter, a leading UK holiday letting agency, has ann...
11
|
Jul
|
Power services firm set to be acquired by US energy resilience group | BUSINESS SALE
The Wilmott Group Limited, a power services group with opera...
11
|
Jul
|
Dunfermline vehicle manufacturing services firm enters administration | ADMINISTRATION
A specialist manufacturing business based in Dunfermline has...
20
|
Nov
|
Watermark continues journey with MBO | MBO/MBI
Watermark, which helps turn airlines into ‘hotels in t...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.