{"id":3559,"date":"2019-01-12T14:46:03","date_gmt":"2019-01-12T14:46:03","guid":{"rendered":"https:\/\/anythingforhire.com\/news\/?p=3559"},"modified":"2019-01-14T14:51:28","modified_gmt":"2019-01-14T14:51:28","slug":"hss-sell-subsidiary-50m","status":"publish","type":"post","link":"https:\/\/anythingforhire.com\/news\/hss-sell-subsidiary-50m\/","title":{"rendered":"HSS Hire to Sell Subsidiary for \u00a360M"},"content":{"rendered":"

Popular tool and plant hire firm<\/a>, HSS Hire, has this week been given the all-clear to sell one of their subsidiary businesses.<\/p>\n

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 \u00a360.5 million.<\/p>\n

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

HSS chief executive Steve Ashmore said the following:<\/p>\n

\u201cToday’s announcement is another step forward.<\/p>\n

\u201cIt will accelerate progress against our strategic priorities, enabling further deleveraging through debt reduction and allow greater focus on our core tool hire<\/a> business.<\/p>\n

\u201cThe UK Platforms business has made an excellent contribution to the Group over recent years, but considering our priorities and focus on tool hire<\/a> we feel it will reach its full potential under new ownership.<\/p>\n

\u201cWe will continue to provide our customers with all of their powered access needs through our existing fleet and the new strategic partnership with Nationwide\u201d he continued.<\/p>\n

The sale is expected to be completed this year, with HSS being free of the brand by the end of 2019.<\/p>\n

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\u2019s forever-growing fleet.<\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

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…<\/p>\n","protected":false},"author":4,"featured_media":3560,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7],"tags":[],"yst_prominent_words":[1515,1047,1039,1436,3484,3482,1872,1052,1049,3488,3485,3486,1034,1651,3489,3487,1050,1048,1133,3483],"class_list":["post-3559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-tool-hire-diy"],"amp_validity":null,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/posts\/3559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/comments?post=3559"}],"version-history":[{"count":1,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/posts\/3559\/revisions"}],"predecessor-version":[{"id":3561,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/posts\/3559\/revisions\/3561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/media\/3560"}],"wp:attachment":[{"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/media?parent=3559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/categories?post=3559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/tags?post=3559"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/anythingforhire.com\/news\/wp-json\/wp\/v2\/yst_prominent_words?post=3559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}