PSL Tool Hire buys M&R Hire Centres in the UK

PSL Tool Hire in Bolton, UK, has bought Blackpool-based M&R Hire Centres for an undisclosed sum. The deal will add five depots to PSL's existing seven branch network in the North West of England.

M&R will be re-branded as PSL Tool Hire over the next few months and the total number of employees in the combined workforce will increase to more than 60.

PSL's managing director Stephen Dennis said M&R was a well-run, successful rental business; "This is the perfect time for this landmark acquisition. Challenging trading conditions can coincide with a reduction in the number of companies purchasing their own equipment.

"PSL can offer more equipment throughout the North West and beyond giving both PSL and M and R customers a better 'one-stop' service. We are now in a stronger position to deliver the expertise and value we're renowned for throughout the region."

M&R Hire Centres managing director, Mark Rafftry said; "There are obvious similarities between our two companies. And I believe this purchase will prove us to be the perfect match. Like PSL, M&R are a local hire company backed by a large stock holding helping us to serve everyone from D.I.Y. customers to multi-million-pound-turnover construction companies and local authorities.