Porterbrook takes stake in Brodie Engineering
20/02/2024
Porterbrook takes stake in Brodie Engineering
Today, Tuesday 20th February 2024, the UK’s leading rolling stock financier and asset management company Porterbrook has agreed a deal to take a 49% stake in Brodie Engineering.
The Kilmarnock based company is the only active rail engineering business in Scotland, specialising in heavy maintenance, refurbishment and overhauls for passenger and freight vehicles.
“Brodie Engineering is an excellent fit for us” said Mary Grant, CEO of Porterbrook. “The expansion in recent years into the Caledonia Works underlines the ambition of Gerry Hilferty and his team. They’re doing a fantastic job and will continue to run the day-to-day operations of the company”.
“A healthy supply chain is fundamental to a reliable and efficient railway. Today’s agreement means we can better support our customers’ fleets in Scotland, and across the whole of the UK.”
Gerry Hilferty, CEO of Brodie Engineering, said: “This is an exciting new chapter for our team, who can all be very proud of their hard work and determination in making the company what it is today. We have a strong relationship with Porterbrook and can now look forward to a long and successful partnership as we begin the next stage in this journey.”
The company began operating in 1996 and works across two sites based either side of the Kilmarnock rail track; the Bonnyton Works, and the Caledonia Works which the business acquired in 2020.
Today’s deal further underpins Porterbrook’s ability to provide a full turnkey solution for its customers and fleets, alongside continued investment to upgrade facilities across the 135-acre Long Marston Rail Innovation Centre in Warwickshire.
