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The Business Magazine November 2023
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Pennant International Group buys UK rail services business track access productions

17 April 2023
The Business Magazine article image for: Pennant International Group buys UK rail services business track access productions

Cheltenham-based training tech provider Pennant International Group has acquired UK rail services business Track Access Productions.

Pennant said the acquisition consideration, which is being funded from Pennant’s existing cash, comprises an enterprise value of £585,000, plus around £389,000 in respect of TAP's 'free cash'.

Bedfordshire-based TAP provides driver training, route mapping and route familiarisation services to the UK rail industry, including train and freight operating companies, engineering contractors and infrastructure providers.

Phil Walker, Pennant International Group CEO, said: "I am delighted to confirm the acquisition and to welcome the TAP team into the Pennant Group.

"TAP is an excellent business with a long-standing, trusted reputation in the UK rail market and we look forward to working together to integrate TAP into Pennant's growing rail offering."

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

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