Speedy Hire buys Amec tool hire

Speedy Hire has acquired the tool and equipment hire business of Amec Logistics and Support Services for £12.5m


Speedy Hire, based in Newton-le-Willows, Merseyside, has acquired the tool and equipment hire business of Amec Logistics and Support Services (LSS) in a £12.5m cash deal expected to complete on 1 February 2008.



LSS is AMEC’s single point of supply for the provision of hire assets including tools, lifting equipment, general plant, temporary accommodation units and survey equipment.



LSS operates from 10 UK depots and has approximately 250 full time employees, who will join Speedy following a consultation process with employee representatives.



As part of the transaction, Amec’s Industrial division has entered into a four year exclusive supply agreement with Speedy to provide for hire a wide range of equipment in a variety of industrial related sectors. A preferred supplier agreement has also been established for other UK Amec divisions.