The equipment hire firm operates from 34 depots and has 335 employees in the UK
Speedy Hire has acquired Lifting Hear Hire for £13.5m.
The company supplies lifting gear from 34 depots across the UK and has 335 employees. Turnover was £16.2m for the year end 30 April 2006 and net assets are £2.3m.
Speedy Hire will pay £7.6m cash and £2.5m in shares for the firm and take on £3.4m of debt.
Commenting on the acquisition Speedy Hire chief executive Steve Corcoran said: “Lifting Gear Hire’s operations and customer base are highly complementary to Speedy Hire's existing specialist lifting business.”
"The combination of Speedy Hire's hire expertise and Lifting Gear Hire's technical reputation will produce an unrivalled ability to provide equipment and services to fulfil customer requirements across the broad spectrum of customer industries, product requirements and geographical locations."