We have advised on a significant acquisition which will see two Welsh heritage railways brought under common ownership.
The Vale of Rheidol Railway has completed its acquisition of the Brecon Mountain Railway, creating opportunities to share expertise and develop the visitor experience while retaining each railway’s distinct identity.
We advised the Vale of Rheidol Railway on the acquisition, bringing the company under the ownership of Vale of Rheidol Railway and connecting two established visitor attractions with distinct operations and histories.
The acquisition brings together two of Wales’s best-known heritage railways, which previously operated under unified management between 1988 and 1996. The Vale of Rheidol Railway runs between Aberystwyth and Devil’s Bridge, while Brecon Mountain Railway runs from Pant, near Merthyr Tydfil, into Bannau Brycheiniog National Park.
The businesses will retain their individual names, character and visitor experiences but say operating under common ownership will enable them to strengthen their contribution to the Welsh tourism economy.
The team was led by Aled Walters, Partner and Head of Commercial, along with Gemma Davies, Partner in Corporate/Commercial and Partners in the Property team Caroline O’Flaherty and Dan Morgan. The team was supported by Kylie Underhill, Associate, Property and Daniel Tedd, Assistant, Corporate/Commercial.
Aled said:
“Bringing the Vale of Rheidol Railway and Brecon Mountain Railway under common ownership is a significant moment for both businesses, as well as for tourism and rail heritage here in Wales. Transactions involving established visitor businesses can bring together a range of commercial and legal considerations, and the success of this deal reflects the value of clear, coordinated advice from the outset. We’re pleased to have advised on this important transaction and to have supported our client in taking this next step.”
Llyr ap Iolo, CEO and Chief Engineer at Vale of Rheidol, said:
“The continued help and support from Aled and the team at Hugh James was invaluable throughout this process. They provided clear, prompt and responsive advice throughout, and the firm’s understanding of the rail sector made it an extremely valued adviser as the deal progressed”.
