Aquisition makes Hirepool's AWP fleet the largest in NZ
By Maria Hadlow20 February 2012
New Zealand general equipment rental company, Hirepool Limited, has bought New Zealand Access Hire from New Zealand Crane Group in order to increase its access equipment fleet.
The New Zealand Access Hire fleet consists of aerial work platforms (AWPs), light towers and telehandlers. Hirepool believes that their addition will make the Hirepool AWP fleet the largest in the country. The company expects it to generate increased penetration into the civil construction, infrastructure and film industry markets.
Hirepool chief executive, Mark Powell, said, "It made strategic sense for Hirepool to add the business to its own extensive suite of products. NZ Access has a well-deserved reputation for maintaining a quality fleet - like ours - with the machines available across our Hirepool branch network nationwide."
Mr Powell said the NZ Access fleet of Genie machines has a replacement value of approximately NZ$12 million, which complements Hirepool's existing fleet of JLG machines.
Mr Powell said that despite activity in the construction sector having yet to recover, "the additional fleet of NZ Access Hire scissor lifts, boom lifts, light towers and telehandlers will be of significant benefit to help us meet both our current demand and that expected when the Christchurch re-build ramps up. The product mix is a natural fit into our business."
The access equipment hire market in New Zealand is estimated to be worth around NZ$80 - 100 million annually.
Deane Manley group managing director of the New Zealand Crane Group said the company sold its Access business in order to concentrate on its core crane activities.
This the second purchase made by Hirepool in the last year. In March 2011, it strengthened its position in the portable building market by acquiring the assets of Hamilton-based Cube Innovations. Hirepool also owns and operates Henderson Rentals and Rhodes Rentals (vehicles) as well as one of New Zealand's leading portable sanitation business, Port-A-Loo.
Hirepool, which was established in June 1955, has more than 50 general hire and other specialist rental businesses nationwide, from Whangarei to Invercargill. The company is jointly owned by a consortium that includes Next Capital and Hunter Powell Investments. Next Capital is also a major shareholder in Onsite Rental Group - one of Australia's largest specialised rental providers - a relationship that enabled Hirepool to immediately access 300 additional portable toilets and temporary fencing urgently required following Christchurch's February 2011 earthquake.