EQUIPMENT specialist Quattro Group has announced the sale of its Scottish-based subsidiary, AB2K, in a management buyout that forms part of a sector-led separation.
The move has been tipped to enable both businesses to specialise in their respective core industries.
John Murphy, MD of Quattro Group, said, “AB2K has been a valued part of the Quattro Group for the past six years. However, as our core focus on rail plant has increasingly diverged from AB2K’s construction plant operations, we recognised that it was the right time to part ways.
“In a mutually beneficial agreement, we have completed the successful sale of AB2K through a management buyout by Stuart Gardner and Mark Kirkwood, who will take the reins as joint managing directors in Scotland. Their deep sector knowledge and leadership experience make them ideally placed to guide AB2K through its next chapter.
“Quattro Group remains incredibly proud of AB2K’s achievements and fully supports this transition. We wish Stuart and Mark every success as they return to their construction roots and break new ground with an independent company. We’re confident this move unlocks greater value for both businesses: allowing Quattro to continue making tracks in rail, while AB2K digs deeper into what it does best.”
A statement from Stuart Gardner and Mark Kirkwood read, “We’ve greatly appreciated our time within the Quattro Group and everything we’ve learned along the way, but now it’s time to get back to our roots. We’d like to sincerely thank John Murphy for his trust in us. He could have sold AB2K to anyone, but he chose to back us.
“We’re excited for the road ahead and to lead AB2K into an independent future, with a strong leadership team and a new vision, focused solely on construction plant hire.”
The transition is effective immediately.
