TRS announces management buy-out
Total Rail Solutions (TRS), the specialists in on-track plant hire and POS services, is pleased to announce the successful completion of a management buy-out backed by Rutland Partners LLP.
The company will be led by Paul Bateman, Chief Executive Officer, Luke Hersee, Operations Director and the rest of the current senior management team. Founders, Martin Mould and Julie Caldwell will leave as part of the management buy-out with our thanks.
TRS was established in 2007 and has become a leading on-track plant hire and Plant Operations Scheme provider to rail the industry. TRS works closely with Network Rail and its principal contractors to support the construction, maintenance and repair of the railways and has invested significantly in new equipment in recent years. As a result, the company has the most reliable and flexible fleet profile in the industry. The business has supported some of the most prestigious Network Rail, Crossrail and London Underground projects across the UK.
Paul Bateman, CEO commented, “TRS is on a new journey of growth and investment. We are excited and pleased that this will continue under our new ownership, we have plans to take advantage of the growing opportunities across the rail network infrastructure, as well as supporting CP6.
With a turnover of £30 million, the TRS team has worked hard to expand its business, focusing on three key operational enablers – ‘Our people, our plant and our processes’. The new ownership is good news for the workforce as the company will continue to invest in all these areas.
Paul continues “In the past three years we’ve invested heavily in our RRV fleet, which is now 80+ machines strong and boasts 80% under three-years-old. In addition, we’ve increased our workforce by 20%, whilst maintaining our commitment to our behavioral safety strategy of ‘Destination Total Safety’.
2017 and 18 has seen us introduce a new online ordering system, bringing increased efficiency and order traceability, open a new depot in Cwmbran, South Wales, and invest heavily in our transport infrastructure. We now deliver over 70% of plant and attachments in-house, improving reliability and efficiency for our clients”.
Tristan Craddock, Partner at Rutland, said: “We are delighted to have completed our investment in TRS. The business has built a strong position in a growing market and is well positioned for future growth over the next cycle. We are looking forward to working with the management team to develop the business further over the coming years.”
The Management Team were advised by Ian Barton of Quantuma LLP and Liz Gillingham of Pennington Manches LLP.