We are excited to share that we have acquired the specialist rail and infrastructure services provider, Readypower Group.
Readypower provides specialised on-track plant equipment and plays a critical role in helping modernise the UK’s rail network. Through this acquisition we will support Readypower’s growth by investing in the latest machinery and technology, cementing our commitment to investing in rail assets across the UK.
Commenting on the acquisition, Malcolm Brown said: “Angel Trains and Readypower are complementary businesses with a singular focus on supporting the UK rail network. 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 Group is very pleased to announce that it has signed £600m of new senior debt. It was arranged directly with a number of lenders and it will be drawn next year for general corporate purposes, including the potential repayment of existing shorter-dated debt.
Alan Lowe, CFO, said ‘this represents effective senior funding which will ensure that sufficient liquidity is available to support new business whilst reducing refinance risk even further. We are also delighted to welcome a small number of new lenders into our financing group’
Angel Trains is delighted to confirm that both PSP Investments and Amber Infrastructure have agreed to increase their shareholding in the Angel Trains Group. They will purchase the combined 51% from AMP Capital with PSP Investments becoming the majority shareholder; the transaction is expected to close in September 2021.
Both PSP Investments and Amber Infrastructure have been invested in Angel Trains since 2008 and the continued stability is highly positive for the group. It is a welcome outcome that reflects their collective commitment to, and confidence in, Angel Trains and the wider UK rail sector.
Angel Trains has invested substantially in its fleet with its shareholders and it will continue to do so. It will support the UK rail sector through its asset management skills to ensure a modern and sustainable rolling stock fleet to meet the evolving needs of its customers and their passengers.
Malcolm Brown, CEO Angel Trains, said: “Angel Trains is committed to the success of the UK rail industry and we look forward to building on the achievements of the last decade. The shareholder base has been extremely supportive, we thank AMP Capital for their contribution and look forward to the continued strong relationship with PSP Investments and Amber Infrastructure.”
We are delighted to announce our collaboration with The Go-Ahead Group plc and Seymourpowell to create concept designs of train carriages that reflect the needs of rail travellers post-pandemic.
The plans include dedicated space for bicycles, additional laptop space to meet the new ‘work from anywhere’ lifestyle, and touchless doors to reduce virus transmission.
Commenting on this venture, David Jordan, our Chief Operating Officer, said: “We are excited to work with our industry partners to design new concepts and solutions that meet the evolving demand of UK rail passengers. We look forward to this project and to continue to drive forward economic recovery across the nation.”
You can read more about our collaborative work in The Telegraph: https://bit.ly/3fgUOpv