Finance director Neil O'Brien said that in the past the company had expanded largely through organic growth but was now in a position to take an aggressive stance.
Speedy Hire has agreed its borrowing arrangement with a bank syndicate made up of Barclays Capital, Royal Bank of Scotland, Lloyds TSB and Yorkshire Bank.
We expect to make three or four sub-£10m bolt-on acquisitions
Neil O’Brien, finance director, Speedy Hire
O'Brien said: "With this facility we can make a number of bolt-on acquisitions.
"We are looking at a number of businesses, and expect to make three or four sub-£10m acquisitions over the next 12 months."
O'Brien said that the purchases were likely to be made in Scotland, Wales and northern England. He said: "A number of companies have approached us [to sell their tools and equipment businesses] that want to leave the sector."
The company aims to increase its network of depots from 257 to 400 over the next five years.