PwC advises Hitachi on UK railway acquisition.
PwC has advised Hitachi on the _25.5 million acquisition of Wiltshire-based The Railway Engineering Company (TRE).
This acquisition is intended to strengthen Hitachi’s Social Innovation business in Europe which includes Social Infrastructure Industrial and Railway system business.
The contract on the transaction, overseen by PwC who acted as lead financial advisers to Hitachi, was signed last night (19 December) and due for completion at the end of the month.
Specialist in UK Railway Acquisition
This represents the latest in a series of transactions where PwC has advised Japanese corporates on acquisitions in the UK, highlighting a notable trend of Japanese inbound transactions that is expected to continue in 2013 and beyond.
Coolin Desai, Head of Transportation & Logistics for PwC, led the deal and said:
We were pleased to be involved in this transaction which demonstrates Hitachi’s continued commitment to the rail sector in the UK. Overall, we have completed six transactions in 2012 involving Japanese firms acquiring here in the UK, meaning we are witnessing a significant upswing in Japanese inbound deal activity across a broad range of sectors.