Plant hire group will take on six depots after buying generator hire firm for £59m.

Plant hire group Speedy Hire has bought generator hire firm LCH Generators in a £59m deal.

LCH operates from six depots and, when added to Speedy's existing power generation business, will give the whole group more than 4,000 generators.

Speedy increased its bank borrowing from £150m to £210m to finance the acquisition.

Steve Corcoran, chief executive said: "LCH has established itself as a leading provider of temporary power for hire in the UK. Its rapid growth has been driven by a combination of customer focus, commitment to service and investment in a quality fleet."

"The addition of LCH to Speedy's existing modern fleet will create a wider range of generators for hire nationally, supported by a highly motivated management team."