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.