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TST announces jobs boost and acquisitions
Track Safe Telecom (TST), the South Wales-based industry leader for rail industry telecoms and safety services, today announces a series of agreements that will create more than 90 jobs over the next three years.
TST, one of the region’s fastest growing companies since being established in 2001, also forecasts that its annual turnover will increase from more than £2m for 2005/06 to more than £17m per annum by 2010.
Cardiff-based TST announces that it has acquired Gem-Weld, a track welding specialist based in West Ealing, in London, from ATA Group plc.
It has also acquired the rail and maintenance division, based in Loanhead, near Edinburgh, from recruitment and training company Acorn.
It has entered into an agreement with Acorn to enter into a single-supplier agreement to source TST’s temporary labour requirements and will shortly move out of TST’s headquarters building in Cardiff Bay to space at Acorn’s head office building at Celtic Springs, Newport;
The job creation and expansion has been underpinned by a significant Welsh Assembly Regional Selective Assistance grant to underpin the company’s growth and acquisition strategy;
It will lead to the creation of more than 90 jobs during the next three years, increasing the size of the workforce from 17 to more than 110.
TST Managing Director and co-founder Philip Owen said, “The business is entering a very exciting phase, following a period of very rapid growth since we established TST just a few years ago.
“This phase will witness us consolidate our existing business, ensure the acquisition of Gem-Weld adds value in a short space of time and maximise the support offered us by the National Assembly.
“The opportunity to forge a very close working relationship with Acorn is also particularly welcome. It is a company with one of the strongest management teams in South Wales and we see the TST/Acorn labour solution as becoming a significant player in the rail industry in future years.”
Mr Matt Southall, Managing Director of Acorn, added, “TST has achieved a great deal in a short space of time; in many ways the management team reminds me of the way we started out at Acorn.
“Our rail maintenance division is a perfect fit with TST, while the opportunity to supply temporary and permanent qualified labour to the business years ahead is a fantastic opportunity for Acorn. The presence of TST’s management team at Acorn’s office building will also help cement the new relationship.”
The decision to provide financial support to TST was welcomed by Mr Andrew Davies, Welsh Assembly Government Minister for Enterprise, Innovation and Networks.
He said, “TST is a superb example of an ambitious Welsh company whose technical expertise is allowing it to occupy a UK-wide business platform. We look forward to seeing the company’s progress in future years and particularly its success in capitalising on the massive investment in the UK rail network that is currently underway.”
TST recently appointed one of the industry’s best-known railway infrastructure executives as Chairman. Kevin Schofield has joined the Cardiff-based company after a 37-career in the rail infrastructure supply industry, most recently as Service Director for Amey Infrastructure services.
Founding directors of TST have amassed more than over 100 years’ knowledge of the railway environment. The company is responsible for telecommunications, electrical installation and facilities management as well as safety-critical infrastructure systems throughout the UK.
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