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Tool Hire & DIY

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HSS Hire Back on Track

One of the biggest tool hire brands of our time, HSS Hire, has this week revealed their latest financial figures, narrowing losses substantially.  

Having recently been in the news for their worrying loss levels, it appears the brand has turned a real corner. Stats show that losses for the first quarter shrunk from £10.2m to a more respectable £7.4m.  

Revenue is also on the up for the firm, growing an attractive 3.9 per cent to just over £161m. 

Though there are many factors that have had a bearing on this positive news, the business claims rental activity has spiked, with their improved level of service seeing people rent more, more frequently. Their service side of the business has also seen a slight boost, with activity up 10.6%. 

Chief executive Steve Ashmore called this “a solid performance” for the first half, “in which the continued focus on driving profitable revenue growth through strong price control and effective cost management led to a significant improvement in return on capital and a further reduction in leverage.” 

“The widely reported headwinds in the economy have affected the tool hire market but HSS is well placed to manage these more challenging conditions,” Ashmore added. 

“We have taken additional action to further optimise our operating cost base and have a clear strategy to build upon our existing excellent market positions, leaving us well placed to continue to grow share in all of our markets.” 

Plant and tool hire through Anything for Hire  

If you are scrolling through the internet looking for a new plant and tool hire provider then why not allow us to do all the hard work for you? Simply input you request and the area you require hire services and our clever system will get to work. 

Scanning our panel for suitable providers in your local area, we can save you a whole load of money and time of all types of rental services. 

So, whether you are looking to hire tools, cars, a bouncy castle or even chocolate fountains, head over to our homepage to conduct your search. 

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True Plant Hire Invest in Hyundai HX235LCR

Plant hire firm, True Plant Hire, has this week announced details of a new purchase, investing in a piece of kit that could change the shape of its business. Buying their most expensive item to date, the Midlands company has added a Hyundai HX235LCR to its fleet.

According to the company’s Director, the digger will extend its current plant fleet, allowing them to evolve into “one-stop-shop” for all plant and tool hire requirements.

Headed up by a young entrepreneur, Tom Macfarlane, the business now boasts 28 machines. This includes 5 x micro excavators and 5 x 13-tonne excavators.

Talking about the decision to buy a Hyundai, Jack said, “We had a demonstrator HX220L from our local dealer TBS Plant Ltd and I just loved everything about it to be fair. Hyundai has vastly improved the joysticks on the HX models, and they are so much better, I just can’t fault them!”

Jack continued, “I’m very impressed with this machine, it’s got plenty of power in the dig, and as far as I’m aware it has got more power than anything else in its class, in addition, the pushing power when dozing is nothing short of phenomenal, it’s a right beast!”

Find tool and plant hire companies through Anything for Hire

If you are on the search for a reputable tool or plant hire company in your local area then look no further than this website. On Anything for Hire, you can search, compare and book all types of hire services in a matter of seconds. Putting you in control of your search and the price you pay for hire solutions, using Anything for Hire makes sense of so many different levels. What’s more is that it is not just tool hire we can help you with. Through Anything for Hire, you can access a huge selection of prices for all sorts of rental services. This can be everything from wedding car hire to bar hire and even chocolate fountain hire!

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Shropshire Plant Hire Firm Goes into Administration

Here at Anything for Hire News, our aim is to keep our readers informed on what is going on in the hire and rental industry. But, unfortunately, it is not all rainbows and unicorns, with this week seeing the closure of a large, reputable plant hire firm in Shropshire.

Regrettably, Hawk Plant (UK) is now under the control of administrators, with Sam Woodward, Alex Williams and Hunter Kelly of EY’s restructuring team managing the process.

83 job losses

According to sources, the Prees-based company is one of the largest of its kind in the UK, with 83 out of the firm’s 420 employees having already been laid off this month.

While evidently in troubled waters, this news has come as a surprise to many. This is mainly due to the fact that the firm reported a healthy turnover of £93.5m in the financial year ending in December 2017. And with over 40 years of experience in the infrastructure, energy and homebuilding markets, many expected Hawk Plant (UK) to have stamped their name in the plant hire industry indefinitely.

Joint administrator, Sam Woodward, said the following:

“The group’s cashflow had been impacted by a number of historical problematic contracts and a delay in the commencement of anticipated projects.

Coupled with this, the group’s funding structure, with significant hire purchase and finance lease commitments put pressure on the cashflow at a time that asset utilisation was comparatively low.”

The business is now looking for a buyer to take over the company. This purchase will also include Hawk Plant (UK)’s five subsidiary businesses. However, who the buyer will be is anyone’s guess.

What does this mean for the UK plant hire industry?

Let us know what you think about this story by leaving your thoughts and opinions in the comments below.

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HSS Hire to Sell Subsidiary for £60M

Popular tool and plant hire firm, HSS Hire, has this week been given the all-clear to sell one of their subsidiary businesses.

According to sources, Leicestershire-based Nationwide Platforms, a subsidiary of the Loxam Group, is set to acquire UK Platforms from HSS Hire. While little details have been revealed, sources say the firm is to be sold for a healthy £60.5 million.

Relieving itself of the responsibilities owning UK Platforms entails, the rental firm will now look to streamline its operations. Having found themselves in quite a substantial debt, the brand can now focus on tool hire and tool hire only.

HSS chief executive Steve Ashmore said the following:

“Today’s announcement is another step forward.

“It will accelerate progress against our strategic priorities, enabling further deleveraging through debt reduction and allow greater focus on our core tool hire business.

“The UK Platforms business has made an excellent contribution to the Group over recent years, but considering our priorities and focus on tool hire we feel it will reach its full potential under new ownership.

“We will continue to provide our customers with all of their powered access needs through our existing fleet and the new strategic partnership with Nationwide” he continued.

The sale is expected to be completed this year, with HSS being free of the brand by the end of 2019.

However, this is not a straight sale. As part of the deal, HSS has decided to enter into a long term, strategic commercial agreement with Nationwide Platforms. They have agreed to provide powered access equipment to add to HSS’s forever-growing fleet.

Let us know what you think. Is this a good move for HSS Hire? Or, should HSS Hire be further diversifying their investment portfolio? Leave your thoughts and opinions with us in the comments below.

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Speedy Hire Acquire Scottish Training Provider

Speedy Hire, one of the biggest tool and equipment hire brands in the UK, has this week announced details of their newest venture, deciding to make another addition to their investment portfolio. According to the firm, they have acquired a respectable Scottish training firm; Geason.  

Aiding the growth period that they find themselves in, Speedy Hire sees purchasing the Glasgow-based construction and professional services training firm as a strategic move.  

Who are Geason?  

With strong connections and affiliates in the construction, infrastructure and industrial markets, investing in Geason is a wise move.  But, what can they offer Speedy in the shape of a RIO (Return on Investment)?.  

Well, in essence, Geason offers flexible, progressive learning for the construction industry. And, while they are headquartered in Glasgow, they deliver training services successfully across the UK. Currently, 1,100 apprentices and 500 NVQ are utilising Geason’s services, with their programmes heavily in demand across the country. 

Plus, when it comes to revenue, the firm seem to be doing pretty well. In the 12 months leading up to October 2018, Geason reported revenue of £8.3m. Earnings before interest, taxes and amortisation stood at £1.7m and gross assets were reported to be worth £2.6m. 

Having the training business within their group will allow Speedy Hire to better train and develop their workforce internally, further supporting the growth of Speedy’s services businesses.  

Russell Down, CEO of Speedy, says the following the news of the acquisition: 

“This acquisition expands our training services offering and allows us to deliver flexible, progressive training programmes to support customers across the UK. 

“I warmly welcome Ian, Robert and Geason employees to Speedy.” 

Let us know what you think. Is this a good investment for Speedy Hire? Leave your thoughts and comments below.  

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Speedy Hire Delivers Strong Growth Figures

While plant and tool hire firms are generally reporting times of bad business, Speedy Hire are happy to be defying convention. This week, Speedy Hire has announced that their profits have almost doubled, thrilled to be telling a story of success as they approach the New Year.

Drawing on stats from the first-half of the year, pre-tax profits for the six months up to September rose to £13.2m. This is up from £6m when compared to last year. The firm claim to have twice as many customers as 2017, having grown their customer base at a rapid rate to get to these figures.

Seeing a substantial spike in revenue also, Speedy Hire say revenue rose 6% to £194.6m.

Having made many tweaks to the business over the last year, these figures evidently show how well strategic alternations are paying off.

‘These results demonstrate the progress we have made in implementing a customer focused strategy and growing our SME customer base,’ chief executive Russell Down said.

‘We have further improved our customer service proposition and the use of technology to better manage the business and meet market challenges.’

‘We remain confident of delivering a result for the full year in line with our expectations.’

Wanting to position themselves as a modern, innovative brand that puts their customers first, Speedy Hire launched an incredible service earlier this month. The ‘4 Hour London Delivery Service’ does what it says on the tin; gives customers their products within 4 hours of placing their hire. And, if the Speedy Hire do not get to the customer within the day, they will get compensation in the form of a week’s free hire!

This service is just one part of Speedy Hire’s ‘Capital Commitment’ initiative; a scheme that sees their products become more readily available to customers across the UK.

Let us know what you think, is more greatness on the horizon for the plant and tool hire company?

Travis Perkins Sell Tool and Clothing Hire Business

Travis Perkins, one of the UK’s leading builders’ merchants, has this week announced that they have sold one of their businesses. According to sources, Birchwood Price Tools, a tool hire and workwear brand, will no longer be under Travel Perkin’s control, sold to a south-west firm.

Purchased by Travis Perkins back in 2011, the business has only been under the brand’s reign for 7 years. Now, BPT will be owned by tools supplier and distributor, Toolstream. Though a successful brand with customers all over the country, the sum paid for the company has yet to be revealed.

Happy to see this acquisition take place, Matt Hunt, BPT managing director, said the following:

“The trust that customers are placing in BPT, the pull from tradespeople and skilled professionals for BPT’s brands and the company’s results, are all speaking for themselves as the company goes from strength to strength.

“This is an exciting new chapter for our company and teams. Travis Perkins was clear it would only sell BPT to an organisation that would value our brands and our people, and that would offer the expertise and support to help us to continue to develop and implement our ambitious growth plans.”

But, ‘who are Toolstream?’ we hear you ask. Well, Toolstream is another credible brand within the industry. BPT will now be a part of Toolstream’s ever-growing portfolio of successful businesses. This includes Triton, GMC, Dickie Dyer, Task and Bench Dog.

Hunt added: “We’re delighted that Toolstream has acquired us. Under our new ownership we will continue to improve our overall proposition and partnership approach, which will benefit, first and foremost, our existing valued and loyal customers who have been reselling our brands, in many cases, for years.

“We will also look to develop new relationships with organisations that we’ve not previously supplied, leveraging our expertise and proven success in a number of sectors.”

Let us know what you think, was this a good move for the tool hire brand?

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A new Chairman for Speedy Hire

Speedy Hire, one of the most reputable tool hire businesses in the country, has this week announced that they have welcomed a new Chairman, David Shearer. Shearer will succeed Jan Åstrand as Chairman as of October 1st 2018, already telling of his big plans for his new role.

A new chapter in the Speedy Hire story

While having experienced a rocky few years when it comes to profits, it does appear that this appointment coincides with news of more successful trading. According to reports, the first quarter of the year brought flourishing times for the business, seeing hire revenue and services revenues up by 5.5% and 8.4%, respectively.

Boasting healthier books, the company feels now is the right time to make some changes to the board, starting with Shearer.

Commenting on the appointment Jan Åstrand said:

“I am pleased to welcome David to the role of chairman.

“He is a valued member of Speedy’s board, with considerable external experience.

“I am confident in his ability to lead the board in building on the solid foundation established during Speedy’s recovery and helping achieve the next stage of its growth.”

Just a pleased with his appointment was Mr Shearer himself. Following the announcement, he said:

“I am delighted to be taking over from Jan as chairman of Speedy as we embark on the next phase of delivering the company’s growth strategy and look forward to working with Russell Down and the board in the years ahead.
“On behalf of the board, I would like to offer thanks to Jan for guiding Speedy through the last four years and wish him well for the future.”

2018:  A defining year for Speedy Hire

With sales on track to exceed targets set, and with a recent £15.2m investment in new equipment, 2018 is set to be a defining year for the tool hire brand. Let us know what you think on this subject by leaving your thoughts and opinion below.

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Bedford hire business scoops national award

Whether you are a startup, growth business or well-established firm, the idea of winning an award is rather exciting. Signalling that you are doing well in your particular niche, awards mean a lot to both businesses and their customers. This is why family-run hire business, Chiltern Hire Centre Ltd, were thrilled to romp home with the Best Sustainability and Corporate Social Responsibility y (CSR) accreditation at the Hire Association Europe Awards of Excellence. Presented with the award at a glittery event in London’s Grosvenor House Hotel, the ceremony was hosted by BBC sports correspondent, Chris Hollins, seeing over 400 guests attend.  

A responsible hire brand

Beating some of the most well-known brands in their space, the company’s unique way of running their business seems to have paid off. According to officials, the independent tool and plant hire company take a keen interest in sustainability, implementing their own strategies to ensure their business has a positive impact on the environment, customers, employees, community as well as suppliers. In addition, the team have been working with a number of local charities, evidently taking CSR very seriously. 

Peter Dilley, managing director, said:

“The HAE Awards are very prestigious and it was an honour to be named finalists, let alone winners! 

“We are a very small, family-run company and as such we cannot fund CSR policies to the same degree as the larger, national hire companies. However, we recognise the importance of sustainability and our responsibility for effecting change with our company beliefs, practices and profits. It’s a cliché, but it’s all about trying to make the world a better place.”

We at Anything for Hire would like to say a huge congratulations to the team and look forward to sharing more of their success stories in the future. In the meantime, we would love to hear your thoughts on CSR in the hire industry. Should independent brands be doing more for the environment?  

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Newport plant hire firm, LDH Plant sold for £1.2m

The Welsh hire industry is a fascinating place to work of late, having given the UK some of the biggest and most innovative businesses in the space. This week, a Newport-based plant hire firm has announced that it has been acquired; sold for a respectable £1.2m.

The Welsh business, LDH Plant, is now owned by Yorkshire firm, Ward Woolston. The deal was made possible by the injection of an HSBC funding package; one that we see the meeting of two wonderful hire business minds. This has allowed Ward Woolston to add South Wales to its ever-growing portfolio, already operating in Bristol, Oxfordshire, and Warwickshire.

Ambitious plans

Wanting to become the biggest plant hire business of its kind, Ward Woolston are planning to reach a turnover of £5m over the course of the next five years, believing this investment to help them on their way to such an ambitious figure.

Scott Woolston, managing director of Ward Woolston, displayed a great level enthusiasm when making the announcement. Talking to the press, he said:

“We’re thrilled to have joined forces with LDH Plant and look forward to expanding our operations and services into South Wales.

“We have achieved consistent growth year-on-year and are working to enhance this progression in the near future.”

Tony Leech, HSBC’s area director for business banking in the north, was just as excited to see this deal closed.

“Scott Woolston and his team have a fantastic growth forecast, and the creation of new job roles within the business is positive news for the South Wales job market.

“We’re delighted to have played our part in the expansion of the group” he said.

With the two businesses currently enjoying a combined turnover of £16m; the bar is certainly set high for this new venture. Let us know what you think; will this acquisition result in a £5m turnover in the next 5 years?

https://anythingforhire.com/news/wales-online-anythingforhire-com-amongst-30-welsh-firms-aiming-make-big/3058/