Finance news
Darren James
Keltbray Infrastructure Services Ltd (KISL) has bought Linbrooke Services’ rail business for an undisclosed amount.
KISL – which Keltbray sold to EMK Capital in August – said the acquisition would secure around 140 jobs and “elevate the digital and systems capability of KISL to a new level”.
Linbrooke’s rail business specialises in technology and connectivity integration. It delivers a variety of work as a principal contractor with Network Rail including signalling, telecoms and power solutions.
It has also worked with firms including High Speed 1, Hitachi and Southwest Trains.
“As a result of the acquisition, KISL has secured the long-term future of the Linbrooke rail business including circa 140 employees in a financially viable way, while providing valuable support to supply chain partners,” KISL said in a statement.
KISL chief executive Darren James said the acquisition allows KISL to “further penetrate the UK’s decarbonised transport market”.
Linbrooke Services, which is based in Sheffield, reported a £70.6m turnover in its latest financial accounts for the year to 31 March 2023, up from £60.6m the previous year. But it posted a pre-tax loss of £1.7m compared with £205,000.
In the accounts, it warned that the collapse of Buckingham Group last year would have a “detrimental effect” on its performance in the year to March 2024, in the region of around £986,000.
When it collapsed, Buckingham owed around £108m to more than 1,000 suppliers.
Keltbray sold KISL in August as part of its plan to refocus on the built-environment sector, with James moving across to the new company.
Keltbray’s former chief operations officer Vince Corrigan then took over as chief executive at Keltbray.
