1st November 2016
Walker Morris have advised AIM-listed engineering services group, Renew Holdings plc, on its acquisition of Giffen Holdings Limited.
Giffen, which is based in St Albans, specialises in mechanical, electrical and power services within the railway environment, working for both Network Rail and London Underground as well as a select number of Train Operating Companies. Giffen has four frameworks with Network Rail and six frameworks with London Underground. Giffen is a direct delivery organisation, employing 123 staff and skilled operatives. Following the acquisition, Giffen, whose entire management team is remaining with the company, will report into Amco Rail, Renew’s rail infrastructure business.
By acquiring the complementary skills of Giffen, Amco Rail will be able to offer an expanded range of services across the rail network as well as creating opportunities for the Group to provide services to London Underground.
Walker Morris partner Debbie Jackson and Senior Associate Oliver Duke together with a team of specialist lawyers drawn from across the firm advised Renew.
Debbie Jackson commented:
“We have worked with Renew over a number of years and during that time the Group has consistently demonstrated strong management performance and a focussed strategy of growing the engineering services business. This latest acquisition accords with that strategy and will help the Group continue to achieve its ambitions.”
Usman Malik from Grant Thornton also advised Renew.