New Zealand’s largest rental company Hirepool Ltd. continues its acquisition efforts with the purchase of two companies — Gisborne Hire and Barricading Solutions Ltd.
Chief executive Tenby Powell says the acquisitions are part of Hirepool’s ongoing effort to create a national footprint as well as branch into specialty areas such as the barricades business. Earlier this year, Hirepool acquired truck and commercial vehicle rental business Henderson Rentals Ltd.
Last July, Australian private equity firm Next Capital purchased Hirepool for $172 million and along with co-investor Hunter Powell Investments Ltd., has added $40 million in capex to support Hirepool’s growth strategy.
Both acquisitions take effect immediately and all existing staff will be retained, Hirepool said. The acquisitions lift Hirepool’s number of branches to 72.
