Speedy signs three-year UK contract with Babcock

UK rental company Speedy has signed a three year agreement with Babcock International Group that could generate more than £10 million in annual revenues.

The agreement, which builds on an existing relationship between Speedy and Babcock’s marine and technology division, will see Speedy support all Babcock's UK divisions with “an extended range of plant and equipment products and services”.

Speedy said the three-year contract made Babcock one of its “most significant customers”. Although annual spending could exceed £10 million, there is no minimum spend commitment by Babcock.

Mark Rogerson, newly appointed CEO of Speedy, said; "This new services agreement builds on the existing support that Speedy already provides to Babcock's Marine & Technology Division. I am delighted that Babcock has given us this opportunity of broadening and deepening our relationship with them".

Babcock International is a £3.24 billion business that generates 85% of its revenues in the UK. In Africa is owns a major crane and construction equipment rental business, Babcock Target Plant Services, and is Volvo CE dealer for Sub-Saharan Africa.