Elliott, a leading UK supplier of modular solutions, has sold its LooHire business to UK-based site equipment rental firm Nixon Hire.
With the sale of its LooHire business, Elliott intends to put more focus on growing its rental business and invest in its product and service offerings, such as its Flex range of modular spaces and 360° Services turnkey solutions.
Lee Young, Chief Financial Officer at Elliott, said, “We are confident that the business will thrive under its new ownership, giving greater opportunities to our employees as well as to our valued customer and supplier base.”
Graham Nixon, Managing Director at Nixon Hire, said, “We have ambitious plans for the development of our business and the purchase of Elliott’s LooHire division contributes to a very exciting period of growth for Nixon Hire. The depot locations, knowledgeable staff and well-established contracts were key factors in our decision to make an offer.”
He added that the LooHire business fits well with Nixon’s existing toilet division, which will make for a smooth transition.
Nixon Hire employs almost 500 people across its depot network, and the company’s turnover in 2018 was £65 million (€74.15 million).
The transfer of LooHire is due to be completed on 28 February 2019.