Access Group Australia has laid out its expansion plans with a AU$120 million investment in Genie machines as it moves into eastern territories.
The access rental specialist, which describes itself as the biggest privately-owned company of its kind in Australia, commenced operations in the state of New South Wales earlier this year and in July will open an office in Brisbane to service the Queensland market.
John Jones, owner of the company said the company was capitalising on the ageing fleets of its major competitors to expand its operations from its Western Australia base. “There are around 45000 machines in the market with an average age of close to eight years, with the majority in the eastern states markets.”
Mr Jones added, “We estimate that more than 7000 machines a year, for the next three to four years, will reach their 10-year life expectancy. The average age of our fleet is 3.4 years and these new machines will bring that down significantly.”
Mr Jones added that the company is targeting a 50% market share in New South Wales and Queensland within the next 24 months. The group is also looking to potentially expand into the state of Victoria in early 2017, either through an acquisition or a greenfield approach as it had done in New South Wales and Queensland.