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April 1982 . John Brown purchases Speedy Fixings Power Tools Ltd. In addition to the fixing business, it operated3 hire outletsi n Prescot,M anchestera nd Llandudno.T he depot network started to grow. lt was here he adopted the Speedy name April 1977 . John Brown became Managing Director of Livesey Hire in \Mgan, later to become Speedy Hire Plc. The Speedy vision begins with one depot in Wallgate, \y'Vigan. Source: Speedy Hire. Page 57 Appendix Nine - Mergers and Acquisitions Acquisition 1 LCH Generators Limited (LCH) Cost f 55m, Depots 6, Employees 190 Gompletion date 15 May 2006 LCH is a leading provider of temporary power for hire in the UK. lt has a proven track recordo f growth,d rivenb y a combinationo f customerf ocus,c ommitment o service,f leet investmenta, skilledw orkforcea nd a highlym otivatedm anagement eam. lt operatesa nationaln etworko f sites,a nd providess ervicest o the off-shorem arket. Followingth e acquisitionth, reed istinctb usinessu nitsh aveb eenc reatedw ithint he Speedy Power company: . Speedy Generators; . SpeedyC ompressorsa; nd . Speedy Pumps. The acquisitionh as acceleratedth e developmenot f Speedy'se xistingp owerg eneration business,p rovidingo ver 4,000 generatorsa vailablef or hire to servicec onstructiona nd industriacl ustomersI.n additiont o the existingh ires ervicesin comes tream,t he acquisitionb ringsa new lineo f revenuei n the form of fuel managements ervices. LCHw as an already-expandinbgu sinessa, nd SpeedyH ireh as continuedth isg rowth strategyp osta cquisitionT. he operationailn tegrationp rocessi s now completew ith a smalln umbero f overlappingd epotsh avingb eenc onsolidatedin tot he company's national Power network. Speedy Hire has also retained almost all of LCH's highly skilled workforce,a numbero f whom have chosent o participatein the company'sS AYE shareholdesr cheme. Acquisition 2 Lifting Gear Hire Limited (Lifting Gear) Gost L14m, Depots 34, Employees 340 Completion date 30 October 2006 LiftingG ear Hire is the UK's leadingi ndependenht irero f liftinge quipmentt o the onshore marketa nd providero f associateds ervices,i ncludingt he repair,m aintenance, testinga nd inspectiono f liftinge quipment.l t enjoysa strongb rand presencei n the industriasl ervicesa nd manufacturings ectors. ' LiftingG ear'so perationsa nd customerb ase are highlyc omplementaryto SpeedyH ire's existings pecialistli ftingb usiness.T he companyh opest hat the integrationw ill delivera n unrivallede quipmenta nd serviceso ffert o customersa crossa spectrumo f industries, productr equirementsa nd geographicallo cations.lt also adds new revenues treamst o the businesso fferi n the form of testinga nd calibrations ervices. The integrationp rocessw as startedi mmediatelya ftera cquisitiona, nd continuesa pace. |
