Netherlands-based rental company Boels Rental has moved into the UK for the first time with the acquisition of Supply UK Group, a nationwide tool hire business. Boels said Supply UK was one of the top ten tool hirers in the UK.
Supply UK is based in Manchester and has 25 branches throughout the UK, including five specialist survey and laser rental locations.
Boels did not disclose the acquisition price. It said Supply’s current managing director, Chris haycocks, will remain with the company and “lead the next phase of [its] growth”. Supply UK Group will be rebranded Boels in the future.
It is one of the most significant recent acquisitions in Europe’s rental market, signalling a first move into the UK by one of the fastest growing rental businesses in continental Europe.
Pierre Boels, managing director of Boels Rental, said; “The UK is the largest market for equipment and tool rental in Europe, so it was a natural step for us, having found the right team in Supply UK that shares our customer service ethos.
“The rental concepts we will bring, together with continued investment in new equipment and facilities, will work well for customers in the UK."
Supply UK Group managing director Chris Haycocks said; “Boels’ investment will enable us to offer an ever increasing selection of new equipment during our next phases of growth."
The deal is significant not just because of Boels’ move into the UK, but because it is another example of European rental firms venturing into the UK market. Earlier this year, French company Loxam acquired Lavendon Group.
Boels Rental operates from more than 350 locations in the Netherlands, Germany, Belgium, Luxembourg, Austria, Switzerland, the Czech Republic, Poland, Italy and Slovakia.