UK contractor Kier sells plant divisons to Wernick and A-Plant
By Murray Pollok02 August 2012
UK contractor Kier Group has sold major parts of its equipment operations to rental companies Wernick Hire and Ashtead group, owner of A-Plant. However it has retained its Kier Plant division, providing mainly tower and crawler cranes.
Wernick has bought Kier's temporary accommodation business for £11.7 million while Ashtead has acquired Kier's mechanical plant and small tools operation for £4.0 million.
Kier has signed trading agreements with both Wernick and Ashtead to ensure that they have continued access to the equipment.
The contractor has not sold its entire plant business and said it would be retaining "certain other plant, together with its fleet management business, for use by the Group's operations". These are understood to be the Kier Plant operation that rents equipment including tower cranes, crawler cranes and telehanders.
Kier Plant of part of Kier's Services division, which is led by former Speedy Hire director Claudio Veritiero.
Paul Sheffield, chief executive of Kier Group plc, said; "It is important for Kier to respond to changing market conditions and, by focusing on our core business and building on our strengths, we can ensure that Kier remains a strong and resilient business and continues to grow in our chosen markets."
For Wernick the deal follows its major acquisition last summer of Harsco Corp's Rovacabin and Eventlink businesses, adding to its fleet 4000 cabins and modular buildings as well as temporary grandstands for 36000 seats.