Loxam Completes the Acquisition of UK Platforms
The Loxam Group (“Loxam”) announces that its wholly-owned UK subsidiary, Nationwide Platforms Limited (“Nationwide”), has completed the acquisition of UK Platforms Limited (“UKP”) from HSS Hire Group plc (“HSS”). UKP has approximately 120 employees and operates a fleet of circa 3,000 powered access units.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190114005508/en/
“I am delighted to welcome UKP’s skilled and experienced management team and employees into the Loxam Group”, said Don Kenny, CEO of Loxam’s Powered Access Division. ‘‘The combination of UKP and Nationwide’s capabilities will enable us to offer market leading working at height solutions from the smallest local SME to the largest national customer.’’
Gérard Déprez, Chairman of Loxam, declared: “I am pleased to announce the completion of this transaction which allows Loxam to strengthen its position in the United Kingdom’s powered access market. This acquisition is a tangible demonstration of our confidence in, and commitment to, the largest rental market in Europe and to the future prospects for the UK construction industry.”
Steve Ashmore, CEO of HSS, added: “UK Platforms is a great business, and this change in ownership will ensure that the company receives the right expertise and support to continue on its positive growth trajectory. The UK Platforms business has made an excellent contribution to the HSS Hire Group over recent years, and we look forward to continuing to work alongside them to provide specialist powered access capabilities to HSS customers. On behalf of myself and HSS I want to wish them all the best of luck for the future, and we look forward to continuing to work together to drive growth in both our businesses.”
Loxam was advised by Allen & Overy LLP (Corporate and M&A) and by White & Case LLP (Antitrust and Competition).
Loxam is the leading equipment rental company in Europe with unaudited proforma consolidated revenue of €1,435 million in 2017 and approximately 7,900 employees. Loxam’s network of more than 750 branches extends over 13 countries in Europe (France, Germany, the United Kingdom, Ireland, Belgium, Switzerland, Spain, Portugal, Luxemburg, the Netherlands, Denmark, Norway and Italy) as well as in the Middle East, Morocco and Brazil.
More information: www.loxam.com
About HSS Hire:
HSS Hire Group plc provides tool and equipment hire and related services in the UK and Ireland through a nationwide network of over 250 locations. Focusing primarily on the maintain and operate segments of the market, over 90% of its revenues come from business customers. HSS is listed on the Main Market of the London Stock Exchange.
More information: www.hsshiregroup.com
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