Acquisition of Cordel formally finalized
Vossloh has completed the acquisition of LiDAR specialist Cordel, further expanding the company’s digital capabilities. Following court approval this week, the transaction became effective on Thursday. Cordel shareholders had previously approved the scheme.
Cordel uses LiDAR technology (Light Detection and Ranging) to inspect railway tracks. Laser measurement equipment installed on trains is used to create three-dimensional scans of the surrounding environment. This makes it possible to identify issues such as uneven ballast beds as well as potential obstructions caused by branches or low-hanging overhead lines at an early stage. The data collected is analyzed using artificial intelligence. Cordel’s customers include major rail operators in the United Kingdom, Middle East, North America and Australia.
“Cordel’s technology is a perfect addition to our portfolio,” says Oliver Schuster, CEO of Vossloh AG. “It gives our customers an even more comprehensive view of their rail networks and lays the groundwork for predictive maintenance and more reliable operations.”
“For Cordel, this is the natural next step in our success story,” says John Davis, CEO of Cordel Group PLC. “As part of the Vossloh Group, we can continue to develop our technology and pursue our shared vision of transforming rail infrastructure through innovation.”
Vossloh is currently advancing the expansion of its digital offerings. Earlier this year, the company issued a €250 million hybrid bond. The proceeds are intended primarily to strengthen the company’s digital capabilities. Vossloh paid approximately £29 million for the acquisition of Cordel, equivalent to around €33 million.