The purchase price has not been disclosed but the terms of the multi-million pound deal see Nixon Hire become sole supplier to Esh of all large plant and primary preferred supplier of site accommodation for at least four years.
The acquired assets are predominantly large plant items such as telehandlers, dumpers, compaction equipment and excavators. They will continue to be run out of the existing Mechplant office in Bowburn. Several employees will also be transferred as part of the deal.
Nixon Hire managing director Graham Nixon said: “Both companies are based in the northeast of England and have worked successfully in partnership for many years now. When the opportunity to acquire the assets arose it was an obvious yes for us.”
He continued: “By selling the plant assets to Nixon Hire, Esh will be able to reinvest the cash into their core business. In addition they no longer have the hassle of running a hire fleet with concerns over issues such as purchasing new equipment, utilisation, compliance, maintenance, transport, breakdowns, residual values and equipment sales. Our principal business is hire, so these things are all part of our day job. Esh can now simply hire the equipment they want from us, when and where they need it. With over £105m invested into the Nixon Hire fleet in the past four years, it also means they have instant access to the latest products and market innovations.”