The firm said the sale of Keltbray Infrastructure Services Limited (KISL) allows it “to focus more sharply on the built environment sector and other targeted markets, in line with its established strategy for diversified growth.”
It added: “EMK Capital brings the financial resources and strategic expertise to drive future transformational growth in KISL and enhance its market offerings.”
Brendan Kerr, Owner of Keltbray, said: “This decision aligns with Keltbray’s long-term strategy to hone our focus on key business areas, allowing us to reinforce our commitment to excellence in the specialist engineering sector. Now is the right time for KISL to transition to a new owner and start a new chapter in its successful growth story.”
Darren James, CEO of KISL, said: “On behalf of the entire KISL business, I’d like to place on record our sincere thanks for the support we have received from Brendan and the Keltbray Group over the last 15 years.
“Together with the management team, I am very excited to partner with our new owner EMK Capital and deliver on KISL’s full potential.”
As part of the agreement, KISL will eventually be renamed and branded to remove the Keltbray name.
Keltbray’s diversification into infrastructure services began in 2009 with the acquisition of Gamble Rail, followed by Aspire Rail in 2010, and the establishment of its energy networks business in 2013.
Latest results for Kelbray showed the firm suffered a pre-tax loss of £1.2m for the year to October 31 2023 from a turnover of £689m.
The infrastructure division covering rail, energy and highways accounted for £378m of group revenue during the year.
Kerr added: “This decision reflects our commitment to solidifying Keltbray’s position as a leader in the built environment sector while continuing to grow our presence in the broader civil engineering market. By focusing our resources and expertise, we are confident that Keltbray will continue to deliver exceptional value to our clients and partners.”
Keltbray will continue to offer a comprehensive range of specialist engineering services, supported by its in-house Design and Plant divisions.
Source : ConstructionEnquirer