The acquisition will complement HSS Hire's existing fleet, enabling it to offer a wider range of large capacity and specialist generators and to provide a more comprehensive service in the growing market for temporary power.
The deal follows on the heels of HSS Hire unlocking new investment from Exponent Private Equity last month, replacing previous owners Och-Ziff and Aurigo, as it seeks to generate new growth and to expand throughout the UK, with a focus on improved local service. HSS Hire has traded successfully and posted consistent growth during the last four years. It delivered sales of £180.2m last year, up 5% from the previous year with profits of £39.9m.
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The acquisition by HSS Hire is supported by Abird Generator Hire senior management team led by Managing Director Chris Anspack and will enable the company to enhance its position as a market leader in diesel generator hire, building on the strong customer base it has nurtured during the last 50 years and providing a robust platform to grow its business. Abird Generator Hire, which has seven depots, employing 60 people, across England and Wales, will continue to operate under its own brand and be led by its current management team who remain in place and committed to the business.
Chris Anspack, Managing Director at Abird Generator Hire said: "Today's announcement is an important milestone in the growth of our company. I am delighted that the deal has been successful. We have been looking at the best options to manage our growing business. While Abird Generator Hire will continue to trade as a separate brand, joining the HSS Hire Group presents a great opportunity to unlock new investment as we embark on the next stage of our growth and development."
Chris Davies, Chief Executive Officer at HSS Hire said: "We are excited to start this new phase of the Abird Generator Hire story with Chris Anspack and his talented management team. We at HSS Hire were really impressed by their business, the quality of product and service offering as well as a strong track record. We look forward to working with Chris and his team to further strengthen and develop Abird Generator Hire's leading position over the coming years. We strongly believe that together we have the perfect foundation for both Abird Generator Hire’s successful future development whilst complementing our driving ambition at HSS Hire to ensure an unrivalled hire experience."
