The owners of Kensite Holdings have taken a majority stake in Think Hire, making what is described as “a multi-million-pound investment”. It is looking to take the business nationwide.
Kensite Holdings is the parent company of Kensite Services, another portable site accommodation hire company.
Kensite is owned by Craig Ainscough, Steve Connolly and Aiden Grimshaw, who are all connected to the Ainscough family that owned Ainscough Crane Hire, prior to its £255m sale in 2007. Craig Ainscough is the son of Brendan Ainscough, one of the three brothers that grew Ainscough Crane Hire to UK market leadership. Steve Connolly is a former finance director of Martin Ainscough Holdings. Aiden Grimshaw is a chartered surveyor who advises the Ainscough brothers on their property investments,
Think Hire was set up just a year ago by Neil Richardson, former sales director of Garic, another supplier of mobile cabins and site welfare.
Under Kensite majority ownership, Think Hire’s registered office has relocated from Harpenden in Hertfordshire to Kensite’s premises in an Atherton industrial estate, near Manchester. The two companies are being held as separate entities but with a strategic alliance.
As part of the deal, Neil Richardson will be joining the board of Kensite Services as a non-executive director.
“It is fantastic to have the backing of investors who see our potential and share our goals,” said Neil Richardson. “Over the next three years, we aim to quadruple the size of Think Hire and take the business national, expanding from the northwest and southeast to new sites in the West Midlands and across the UK.”
The new investment will see ThinkHire expand its range in renewable power, as well as add new services, including waste and water management.
“The carbon neutral elements of the company were the main attraction,” said Craig Ainscough. “We know there are many projects and businesses that share these environmental goals and who face stringent sustainability targets. This multi-million-pound finance package will ensure Think Hire is perfectly placed to support these companies.”