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Interserve Group has sold its formwork, scaffolding and support business RMD Kwikform to French scaffolding giant Altrad.
According to reports, the West Midlands-based business has received 140 million pounds and allowed Interserve to focus on its renamed Tilbury Douglas Construction business.
RMD Kwikform has more than 1,300 employees in core markets in the UK, India, Australia and the UAE.
Altrad Group was founded in 1985 by President Mohed Altrad, with revenues of approximately 3 billion Euros.
It is one of the world's leading industrial service companies, focusing on the oil and gas, energy, processing and construction markets, with approximately 38,000 employees.
Interserve Group Chairman Alan Lovell said: "The sale of RMDK to Altrad Group continues our significant progress in selling the components of Interserve Group to best realize value for our shareholders.
"I have no doubt that RMDK will flourish as part of the Altrad Group, which will benefit both its employees and customers."
Altrad Group will support RMDK's growth strategy, which is based on further investment in products, services and geographic expansion.
Ran Oren, Altrad Group Co-CEO, said: "We are delighted to welcome RMDK to the Altrad family.
"For many years, we have been following and admiring RMDK's professional engineering skills and services, and firmly believe in its brand, customer solutions and ability to resume growth."
Written by Aaron Morby 2 months ago Share a story email aaron.morby@constructionenquirer.com is always private
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