CAF Acquires EuroMaint to Expand Train Maintenance Sector
CAF (Spain) has acquired EuroMaint (Sweden) to shore up its position in the rolling stock maintenance sector.
CAF Group’s decision to acquire 100 percent of shares of EuroMaint Group means the company is embarking on a new stage in its growth and diversification strategy. EuroMaint is the market leader in rolling stock maintenance in its country. CAF Group achieves three things through this acquisition. Firstly, it underlines its increased activity in the rail services segment. Secondly, CAF can also consolidate its firm presence in the Nordic market. This latter aspect is useful as the company is involved in a substantial number of projects in the region. Lastly, CAF will benefit from EuroMaint’s contribution to its order book.
About EuroMaint in Sweden
EuroMaint currently looks after passenger trains, locomotives and yellow machines in Sweden. It focuses its activities on maintaining large fleets. It further supplies a wide range of railway components to Sweden’s major operators. In total EuroMaint has 18 workshops and facilities in the country.
EuroMaint employs approximately a thousand people. Its revenues last year were in the region of 150 million euros.
CAF aims to hold a strong position on the European level in the maintenance and supply of components. Furthermore, CAF believes the acquisition of EuroMaint will open up synergies in the area of purchases and in the manufacture and supply of rail equipment and components.
The acquisition is in line with CAF Group’s Strategic Plan for 2020, with diversification being a key aim.
The transaction is expected to go through by July 19. The agreed price currently stands at around 80 million euros. However, the final price will become clear when the transaction closes.
EuroMaint was established in 2001 when Swedish State Railways was disbanded. The assets were divided between seven different companies, all owned by the Swedish state, of which EuroMaint, responsible for train maintenance, was one.