Speedy outlines Hewden plans

19 March 2008

Speedy Hire will close or merge just 23 of the 188 Hewden Tool Hire depots following its £155 million acquisition of the business announced in the second week of June.

Steve Corcoran, Speedy's chief executive, told IRN the company expected the Hewden business to add revenues of between £82-84 million (€125 million) in its first full year, compared to 2006 sales of £89,8 million (€135 million). The acquisition has brought 40000 customer accounts, 24000 of which are new to Speedy.

Mr Corcoran said the company still had plenty of scope to grow in the UK by expanding its product offering and customer sectors. He said Speedy would not be entering heavy equipment sectors such as earthmoving or cranes; “We cannot envision doing that at the moment”. Over the medium to long term, he said Speedy would look to geographical diversification in Europe before expanding into heavier equipment in the UK.

“Where in the past we were facing a poorly-developed [rental market in Europe], that has changed, and there are some very good companies there. Do we think we can compete in Europe? Yes, I think that's a reasonable suggestion”, said Mr Corcoran.

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
Loxam accelerates environmental shift
Equipment rental company aims to halve direct emissions by 2030 and cut indirect emissions by 30%
New HBOX+ lighting tower from Himoinsa
HBOX+ is designed for efficiency, connected remote control, safety and easy transport
Carrier Rental Systems launches ‘clean air’ fleet
Air scrubbers and filter units are designed to improve indoor air quality and improve productivity
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