Speedy acquires Lifterz

By Euan Youdale20 March 2019

127328 speedy logo

No caption available

Speedy has acquired powered access specialist Lifterz, based in Yorkshire, UK. It paid £9.6 million ($12.2 million) in cash as well as net debt of £11.9 million ($15.3 million).

Operating from a head office in Ossett, Lifterz has three additional sites and a fleet of approximately 1,300 access platforms and around 90 employees. It was managed by father and son team Malcolm and Ben Bowers.

Unaudited revenue for the 12 months ended 31 January 2019 was £15.2 million ($20.9 million) with EBITDA of £3.3 million ($4.4 million). Gross assets were £17.2 million ($22.7 million).

Speedy said the acquisition complemented its previous powered access acquisitions, giving it a national presence and allowing it to service customers nationally with larger specialist equipment. It will create a national powered access business operating through its national depot network, a strategy that Speedy said would allow it to cut costs.

Since November 2017, the group has invested over £50 million ($66.1 million) in powered access, in line with its strategy to build national presence through acquisitions and organic growth.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, International Rental Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
New battery storage systems from Aggreko
Batteries offer 40-50% reductions in fuel costs and emissions
Speedy trading update points to growth
UK rental company maintains “positive trading momentum” 
Herc posts upbeat Q2 and H1 2021 results
Planned market expansion supported by strong rental market and rising CapEx
CONNECT WITH THE TEAM
Murray Pollok Managing Editor Tel: +44(0)1505 850 043 E-mail: murray.pollok@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA