In acquiring UK Platforms, HSS becomes the country’s second largest access hire company.
UK Platforms was founded in 2000 and is a nationwide hire company supplying electric and diesel powered access products, including scissor lifts, boom lifts and telehandlers. It was acquired by the Haulotte Group in 2004 and doubled in size in 2009 when it then acquired Access Rentals Ltd. It has more than 2,400 platforms and telehandlers in its fleet, making it the UK’s sixth biggest player in the sector, according to a recent industry ranking. In 2012, UK Platforms generated revenues of £17m. It has approximately 120 employees and 10 depots.
Up until this deal, HSS had approximately 4,300 platforms, putting it third behind AFI (c.4,500) and Lavendon/Nationwide (c.10,900).
HSS chief executive Chris Davies Hire said: “We believe that UK Platforms is a great fit for HSS and reflects our commitment to adding specialist expertise to our group. I’m confident that it will help us to continue to deliver an unrivalled hire experience to our customers. There is great cultural alignment - we each care strongly about safety, high-quality kit, great value and industry-leading customer service. We look forward to a continuing strategic partnership with Haulotte.”
The acquisition by HSS is supported by UK Platforms’ senior management, led by managing director Philip James who said: “UKP is a specialist in its field, distinguished by an excellent range and service commitment. We look forward to becoming part of the HSS Group and the future service enhancements this will bring to customers and colleagues of both organisations.”
Haulotte Group CEO Alexandre Saubot said: “This transaction will have a positive impact on the 2013 first half accounts of our group, will significantly reduce our debt and strengthen our financial capacity to pursue strategic opportunities in our core business when they will appear. This deal should enable us to further strengthen the close relationship we have with the HSS Group for several years.”
The price has yet to be disclosed.