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News » Plant » AFI takes over Kimberly » published 19 Jul 2017

AFI takes over Kimberly

Powered access hire specialist AFI-Uplift has taken over one of its competitors, Kimberly Rentals.

AFI-Uplift is backed by private equity firm Rutland Partners and runs a fleet of approximately 5,700 access machines. The acquisition of Kimberly takes the fleet to around 7,300 units, consolidating its position as the UK’s third biggest powered access supplier, behind Nationwide Platforms (now owned by Loxam) and HSS.

Kimberly was founded in 1994 and has six depots across the UK. It was taken over in 2007 by LDC – the private equity arm of Lloyds Bank – in concert with former Hewden Stuart director Ray Ledger, who retired in 2013.

Kimberly Rentals Group reported revenues of £13.2m last year and made a pre-tax loss of £1m.

AFI saw its revenues grow 19% in 2016 to £75m. It also acquired Rapid Platforms in October 2016 and has opened new depots in the Middle East.

Rutland Partners took over AFI in 2013 from Equistone Partners Europe, backing an £85m management buyout.

 

 

 

MPU

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This article was published on 19 Jul 2017 (last updated on 19 Jul 2017).

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