HSS sells Laois Hire
7 April 2021
HSS has announced the sale of Laois Hire Services Ltd to Briggs Equipment Ireland Ltd for a cash consideration of €11.2m (£9.6m).
Laois, which concentrates on small plant including excavators, rollers, dumpers and large pumps, was acquired in 2005. It represented approximately 4% of HSS group revenue for the year ended 28 December 2019.
Briggs Equipment, which has its UK headquarters in Stafford, specialises in engineering services and asset management, particularly in the contract hire of industrial machinery.
It is the exclusive UK distributor for forklift truck maker Hyster-Yale Group and has supply partnerships with providers of plant and machinery for cleaning, access and ground works.
In 2019, Briggs acquired the tool and equipment hirer Balloo Hire Centres which has depots in Belfast, Bangor, Lisburn, Ballyclare, Glenavy and Dublin.
HSS has entered into a commercial agreement with Briggs for the re-hire of equipment to ensure continuity of supply to customers.
Steve Ashmore, HSS chief executive, described the sale as “another step forward on our strategy, enabling us to increase focus on our core Tool Hire business.”