Renew Holdings shells out £80m for rail firm

QTS Group

Listed engineer buys family-owned Scottish contractor QTS

AIM-listed engineering firm Renew Holdings has bought Scottish rail contractor QTS Group for £80m, financing part of the deal with a £45m share placing.

Leeds-based Renew said the acquisition of QTS, which has a longstanding relationship with Network Rail operating under long-term framework positions, would boost its own rail activity and increase its market share.

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