The equipment hire firm operates from 34 depots and has 335 employees in the UK
Speedy Hire has acquired Lifting Hear Hire for 拢13.5m.
The company supplies lifting gear from 34 depots across the UK and has 335 employees. Turnover was 拢16.2m for the year end 30 April 2006 and net assets are 拢2.3m.
Speedy Hire will pay 拢7.6m cash and 拢2.5m in shares for the firm and take on 拢3.4m of debt.
Commenting on the acquisition Speedy Hire chief executive Steve Corcoran said: 鈥淟ifting Gear Hire鈥檚 operations and customer base are highly complementary to Speedy Hire's existing specialist lifting business.鈥�
"The combination of Speedy Hire's hire expertise and Lifting Gear Hire's technical reputation will produce an unrivalled ability to provide equipment and services to fulfil customer requirements across the broad spectrum of customer industries, product requirements and geographical locations."
