Formwork, falsework and shoring specialist RMD Kwikform is being acquired by scaffolding giant Altrad in a deal reportedly worth more than £140m.
Midlands-based RMD employs more than 1300 people with operations in the UK, India, Australia and the UAE. It is part of the Interserve Group, has been involved in the construction of HS2, Crossrail, Battersea Power Station and Hinkley point.
Ian Hayes, chief executive of RMD said: “Altrad Group will support RMD’s growth strategy built on further investment into our products, services and geographic expansion, widening the platform for the renowned world-class engineering solutions we provide to our clients. Importantly, it will also lead to significant opportunities for our staff as part of a leading global industrial services group.”
Ran Oren, joint chief executive of Altrad Group said: “RMD will enhance our portfolio of products, in line with our strategy of the geographic, sector and product diversification.”
Altrad dominates the UK scaffolding sector after previous acquisitions including Cape, Hertel, Trad, BarOmix, Belle Group, Beaver 84, NSG, Generation and MTD. The acquisition of RMD is Altrad’s latest deal and comes after the group bought the Hire & Sales division of Actavo during the summer.