The agreement, valued at approximately £10.87m, includes assets for the production and installation of electrical components and systems for applications in the rail industry, including the manufacture of wiring harnesses, panel and cabinet build and electromechanical assemblies.
MRSS will enter into a lease agreement for the part of Bombardier’s Derby site currently occupied by the business, which will continue to operate with its current employees. The transaction includes the transfer of assets, staff and inventories on a debt-free and cash-free basis.
The revenue of the business section was £36m in 2018. The transaction is expected to close between April and June.
MSSL, through PKC Group, which it acquired in March 2017, manufactures wiring harnesses for rolling stock, mainly in Europe and North America. PKC Group entered the rolling stock business by acquiring Kabel - Technik - Polska (KTP) in 2015 and entered into a global partnership agreement with Bombardier in 2016 which has been now been expanded to Britain with the agreement between MRSS and Bombardier.
