Loxam has announced that its wholly owned UK subsidiary Nationwide Platforms has acquired UK platforms (UKP) from HSS Hire.
With a fleet of around 3,000 powered access products, UKP had been part of HSS Hire since 2013, but will now under the Nationwide Platforms company. It employs approximately 130 people.
As part of this transaction, Nationwide has entered into a commercial agreement with HSS to provide powered access equipment to complement HSS’ existing fleet.
The closing of the transaction is subject to the approval by HSS’ shareholders and the confirmation that it will not be referred to the Competition and Mergers Authority. The transaction is expected to close before year-end 2018.
Don Kenny, CEO of Loxam’s powered access division, said, “I am delighted with the acquisition of UKP which will further reinforce NWP’s position as the leading powered access specialist in the UK. The customers, employees, fleet & facilities that UKP will bring to NWP will help us expand our offering and enhance our service to both sets of customers.
“The partnering agreement with HSS is an exciting development for both companies which I am sure will bring mutual benefits to both our & HSS’ customer’s. The partnering agreement with HSS is an exciting development for both companies which I am sure will bring mutual benefits to both our & HSS’ customer’s.”
Meanwhile, Gérard Déprez, president of Loxam, added, “The acquisition of UKP demonstrates Loxam’s commitment to the UK rental market and to further investing in its powered access division. Loxam is always pleased to welcome new colleagues, with whom to share mutual expertise and common ambition to continuously improve the service we provide to our customers.”