The deal for the trackside plant and equipment (TP&E) rental division includes a five year framework agreement for the hire of plant to Balfour Beatty Rail across the UK.
The TP&E rail equipment rental activity operates from a number of locations in the South East of England and will be integrated into Torrent Trackside – Vp’s specialist rail business.
Balfour Beatty Rail will continue to operate the core of its rail plant business which includes track geometry services, road rail vehicles, specialist plant services, rail grinding and seasonal treatment works.
Jeremy Pilkington, Chairman of Vp plc, said: “This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector.”
Balfor Beatty Rail Managing Director Mark Bullock said: “Following a strategic review of the way in which Balfour Beatty Rail procures its small tools, plant and equipment, a decision was taken to sell the trackside plant and equipment (TP&E) business.
“We remain very much committed to UK rail plant market and will continue to provide our customers with a complete range of high quality track geometry, road rail and specialist rail plant services.
“We look forward to working with Torrent Trackside as a strong supply chain partner for all our trackside plant and equipment hire requirements.”