PwC Manchester Corporate Finance team has advised Lundy Projects on its acquisition by Alpiq.
Founded in 1976, Lundy Projects is a turnkey provider of specialised rail construction services, offering design, manufacturing, civil construction and installation services to the UK rail sector. Lundy Projects is headquartered in Stockport with approximately 160 employees at five locations and a strong customer base.
Alpiq is a leading Swiss energy services provider and electricity producer in Europe with revenue of over £5 billion. Alpiq is also a pioneer in railway technology with over 100 years of experience including overhead lines for trains, trams, specialised railway track construction work, cable laying and rail safety technology. With the acquisition of Lundy Projects, Alpiq is expanding its service offering and know-how in the fields of design, manufacturing and assembly of catenary systems and signal structure solutions. The acquisition will make Alpiq the number one for catenary technology in Europe.
PwC provided Corporate Finance (lead advisory), SPA and Tax services to Lundy Projects. The Corporate Finance team was led by Daniel Gallagher, Rebecca Rennison, and Alex Ford, with rail sector expertise from Charles Johnson-Ferguson.
Dan Gallagher, PwC Corporate Finance Partner commented;
“We are delighted to have been able to help facilitate the acquisition of Lundy Projects by Alpiq. The UK is currently on the verge of some significant rail infrastructure investments which will transform the rail network providing further economic growth. This acquisition will ensure that Alpiq is ideally placed to play an integral part in those projects.”