The acquisition will, according to the Nottingham-based firm, enable it “to accelerate its plans to explore and exploit new opportunities arising from access to new markets, technological advances and major trends in society such as the drive for smart cities”.
The deal will also play a key role in CAF’s plans to expand and diversify its presence in English-speaking markets worldwide. The acquiring firm’s main UK presence to date has been through its Coventry-based CAF Rail operation, but the firm believes BWB will enable it to “consolidate its presence in the country whilst strengthening its position as a comprehensive rail service supplier”.
CAF will acquire BWB in a phased transaction, the value of which has not been disclosed, over the next three years. It will be positioned alongside CAF’s subsidiary CAF Turnkey & Engineering (TE) – a rail systems engineering technology firm – although BWB will remain a standalone business with its entire management team set to remain intact, led by CEO Steve Wooler.
CAF chief officer – subsidiaries and corporate development – Josu Imaz, said: “We see BWB Consulting as the best of British design engineering. It has strong leadership, a talented team of people, and complements our own culture of versatility and flexibility. We have ambitious plans to diversify our business, to extend our turnkey engineering activities, and we see BWB playing an important role in that strategy.
BWB Group CEO Steve Wooler said: “We believe there is a once in a lifetime opportunity for BWB, over the next decade or so, to play a leading role in digital engineering, smart cities, and colossal investment in infrastructure, not just here in the UK but across the world. Becoming part of a hugely respected business like CAF not only unlocks the door to that opportunity, it materially extends BWB’s horizons.”
BWB employs over 300 staff across seven offices throughout England with annual revenues of over £23m ($30m). They will join CAF’s c8,000-strong global operation with annual revenues in excess of €1.3bn ($1.5bn).
Earlier this year, EA reported on BWB’s strong performance during its fiscal year ending 31 July 2016, when it achieved a 38% hike in turnover attributed to both acquisitions and organic growth (Environment Analyst 05-Jan-17).
Source: http://bit.ly/2uYqLcI
