Plant rental firm Vp has bought part of Balfour Beatty Rail for £5.5M.
Yorkshire-based Vp said it had acquired the business and assets of Balfour’s trackside plant and equipment rental activity.
Operating across South East England, the acquired division will be integrated into Vp’s rail business Torrent Trackside.
As part of the deal, Vp secured a five-year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.
Vp chairman Jeremy Pilkington 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.”
Balfour Beatty last week revealed that it was engaged in talks with Carillion over a possible merger.
The UK’s largest contractor by revenue is also considering selling consultant Parsons Brinckerhoff, which it acquired less than five years ago.