Formed in 1994 from the former Intercity Fleet Engineering division of British Rail, Interfleet was sold in a management buyout in 1996 and established its headquarters in Derby with 99 staff. Today the company, which specialises in rolling stock, railway systems, and strategic railway management, has more than 600 staff in 22 locations across four continents. Interfleet had a turnover of around £52m in the 2010-11 financial year. SNC-Lavalin says the acquisition supports its long-term strategic expansion in the rail sector.