Arriva buys LNWR
19 November 2008
Arriva has bought Crewe-based train maintenance company LNWR for £2.4million, part of which represents repayment of a shareholder loan, and the assumption of approximately £2million of debt.
The business, which operates a modern train maintenance depot in Crewe, was founded in 1996 by music producer, entrepreneur and rail enthusiast Pete Waterman. The depot, which has grown from a former Victorian carriage shed, has seen £3million of investment over the past 12 months.
LNWR's managing director Mark Knowles will continue to lead the team of approximately 110 employees and the business will continue to trade as LNWR. Bob Holland, managing director of Arriva's UK Trains division, said: 'Going forward, we plan to build on LNWR¹s work for Bombardier, Siemens, Freightliner and Arriva Trains Wales'.
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