Speedy embarks on major reorganisation

By Murray Pollok02 February 2009

Steve Corcoran, chief executive of Speedy Hire in the UK.

Steve Corcoran, chief executive of Speedy Hire in the UK.

Speedy Hire in the UK has embarked on a major reorganisation to adapt to changing market conditions and dynamics, including the elimination of its product specific divisions and a refocusing on business with major accounts.

The key to the new structure is a shift away from geographical and product-specific groupings towards market and customer groups, as well as a redefinition of the company as a service provider rather than a pure hire supplier.

IRN understands the structure will see the creation of a Speedy Asset Services group, including a Light-side and Heavy-side business and a Strategic Relationships division. Heavy side will be led by Andy Carter with David Graham in charge of Light-side and Dave Harris leading Strategic Relations. Other new divisions will include International Services - led by Mike McGrath - Branded Services and Advisory Services.

The main elements of the new organisation are to be in place by April this year, although Speedy views the project as a long term one.

Speedy currently operates under two main divisions, Tool Hire and Equipment, with the Equipment division further sub-divided into product businesses for Power, Lifting, Survey, Pump and Space.

A key aim of the new structure is to capitalise on the emergence of a number of super-contractors in the UK and Europe. Speedy believes the European market will come to be dominated by around 20 such super-customers.

Speedy has yet to provide any details of the reorganisation. However, it told IRN; "Key to the hire industry's continued success has been its ability to evolve in line with changing market conditions and market dynamics. Over the last 12 months, we've been assessing these changes and adapting our own business structures and offering accordingly.

"Following this assessment, we're now implementing a number of exciting strategic and operational changes across our group - changes that will ensure we deliver continued growth in our chosen markets." Speedy said it would provide more details in due course.

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