Pioneer Pump buys UK pump rental company

Pioneer Pump Solutions Ltd, the UK pump subsidiary of Franklin Electric Co Inc, has acquired Performance Pump and Equipment Co Ltd of Stowmarket, Suffolk, UK.

Franklin Electric has agreed to pay £1.5 million in an all cash transaction.

Performance Pump rents 2 to 12 inch pumps from three locations in Wigan, Somerset and Petersfield in the UK had reported revenues of around £1.5million in 2012.

Dennis Mitchell, chairman of Pioneer Pump Solutions, said; “The addition of Performance Pump gives us a broader geographical base to service the needs of our customers. We look forward to helping customers throughout the UK achieve the cost savings and reduced carbon emissions that our products provide."

Pioneer Pump Solutions is a UK-based national specialist pump rental business with locations in Ipswich, Nottingham and Cardiff and serves the mining, construction and utilities markets.

The rental business, which is a sister company to pump manufacturer Pioneer Pump Ltd, was established earlier this year. Pioneer is now engaged on a dual pump sales and rental strategy in the UK. It has also started to rent some of its UK rental fleet outside of the UK.