Altrad acquires RMD Kwikform
UK based Interserve has sold its RMD Kwikform access and formwork business to the French international scaffold group Altrad. The sale is part of Interserve’s ongoing restructuring which has seen the sale of several other businesses, including its support services division to Mitie in 2020.
Kwikform is based in the UK and employs around 1,300 people around the world, mostly in its key markets of the UK, India, Australia and the UAE. RMD started off life as part of the Douglas Construction group producing formwork panels in 1947. The following year it was set up as a standalone operation, with the name Rapid Metal Developments or RMD. In 1999 it merged with scaffold company GKN Kwikform to become RMD Kwikform.
Interserve chairman Alan Lovell said: “The sale of RMDK to Altrad continues the significant progress we have made selling the constituent parts of Interserve to best realise value for our shareholders. I have no doubt that RMDK will thrive as part of Altrad group which will benefit both its staff and clients alike. I would like to thank all the team at RMDK for their outstanding contribution to the Group and wish them well for the future.”
RMD Kwikform’s chief executive Ian Hayes, added: “We are delighted to be joining Altrad. RMDK will provide complementary engineering services across Altrad’s global markets enhancing services and value to its clients.”
Ran Oren, joint chief executive of Altrad, said: “We are so excited to welcome RMDK to the Altrad family. We have watched and admired RMDK’s specialist engineering skills and services for many years and strongly believe in its brand, client solutions and ability to return to growth. RMDK will enhance our portfolio of products, in line with our strategy of geographic, sector and product diversification. Altrad is well financed with a strong balance sheet and the unwavering support of its stakeholders. We are able to provide investment to fuel the further growth of RMDK as part of a leading industrial group.”