Rutland Partners is pleased to announce that on 17 November 2018 it completed a management buyout of Total Rail Solutions (“TRS”) from its founders, Martin Mould and Julie Caldwell.
TRS is a leading provider of operated and non-operated road-rail plant, sub-contracting services and labour to rail sites across the UK. The business also derives a significant proportion of revenue from value-add Plant Operations Scheme (“POS”) services, including on-track plant planning, delivery and site management. 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, with a current turnover of £30m.
Rutland is backing the management team led by CEO, Paul Bateman, and Operations Director, Luke Hersee. Under their leadership TRS has grown successfully becoming a trusted long-term partner of customers, valued in particular for its quality, speed and flexibility of service. The business has supported some of the most prestigious Network Rail, Crossrail and London Underground projects across the UK.
Rutland’s investment in TRS represents an exciting opportunity to capitalise on our asset hire experience and support the incumbent management team to develop the business further. Investment in both the fleet and support infrastructure is planned to allow the business to better serve its customer base as the industry moves into the next rail spending cycle, Control Period Six.
TRS represents the seventh investment from Rutland Fund III. The transaction was led on behalf of Rutland by Tristan Craddock, Ben Slatter, Kajen Mohanadas and Will Southgate.
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.”
Paul Bateman, CEO at TRS said “In the past three years we have invested heavily in our fleet, which is now 80+ machines strong and the most modern in the country. We are excited to have an investor on board to support our ambitious plans for further growth.”