L.B. Foster Announces Two UK-Based Rail Technologies Acquisitions
L.B. Foster Company (NASDAQ: FSTR) has announced its acquisition of Skratch Enterprises Ltd. (“Skratch”), a Telford, UK-based digital solutions specialty company, and Intelligent Video Ltd. (“IV”) of Leamington Spa, UK.
L.B. Foster designs, develops, manufactures, and installs a range of mobile, wireless, and digital customer information signage systems for use in railway stations and airports. Skratch, an industry leader in digital system integration within the UK, brings advanced digital display technology and capabilities to L.B. Foster that can be leveraged in both the rail space and adjacent retail markets.
Skratch has established a unique market position, offering a single-point supply solution model for clients, and enabling large scale deployments. Its service offerings include design, prototyping and proof of concept, hardware & software, logistics & warehousing, installation, maintenance, Content Management (CMS), and managed monitoring. The single-point solution model provides a streamlined project delivery methodology that reduces complexity for the end user.
L.B. Foster has collaborated with Skratch on digital solutions for the retail sector in the past, including the first digital signage application using British Sign Language interpreters in ASDA superstores, a British supermarket chain.
IV is a developer of high-quality surveillance, security, and safety solutions. They have provided sub-contracting services for L.B. Foster’s Remote Condition Monitoring (RCM) and Inform Visual Communications solutions. IV also provides L.B. Foster with enhanced technical resources to assist in a variety of existing and developing solutions for the Company.
“These acquisitions fit neatly into the growth strategy L.B. Foster announced in 2021. The accomplished team at Skratch delivers new learning, expertise, and experience that complements existing L.B. Foster growth businesses, and enables access to wider target markets in the UK and Europe. IV provides unique expertise and capabilities that help enable our aspiration to grow our technology-focused solutions offering.”John Kasel, President and Chief Executive Officer, L.B. Foster Company
Skratch and IV collectively employ 38 people at their Telford and Leamington Spa offices. Both Skratch and IV will operate as standalone subsidiaries within the L.B. Foster group of companies.