Cheltenham-based training tech provider Pennant International Group has acquired UK rail services business Track Access Productions.
Pennant said the acquisition consideration, which is being funded from Pennant’s existing cash, comprises an enterprise value of £585,000, plus around £389,000 in respect of TAP’s ‘free cash’.
Bedfordshire-based TAP provides driver training, route mapping and route familiarisation services to the UK rail industry, including train and freight operating companies, engineering contractors and infrastructure providers.
Pennant International Group plc (LON:PEN) was established over 60 years ago and is a leading global provider of technology-based maintainer training and integrated product support solutions. The Group operates worldwide, with offices in Europe, North America and Australasia.