HSS Hire, one of the U.K.’s largest equipment and tool rental companies, has acquired All Seasons Hire Ltd., one of the leading heating, ventilation and air-conditioning rental companies in the U.K., for a total cash consideration of £11.4 million (about U.S. $17.9 million). All Season’s specializes in the supply and installation of temporary, large-scale heating and cooling equipment for use by facilities such as data centers.
All Seasons also offers smaller scale air-conditioning and heating equipment for offices and other buildings, complementing HSS’ existing range. Based in Andover, the business has satellite operations in Dartford and Birmingham.
HSS is acquiring the entire share capital of All Seasons, with the consideration paid in cash and funded from HSS’ existing revolving credit facility. The company expects the acquisition to be earnings-enhancing within the current financial year.
In the 12 months to March 31, All Seasons delivered unaudited revenue of £4.9 million, EBITDA of £1.9 million and operating profit of £1.3 million. The gross assets employed in All Seasons were £4.7 million.
All Seasons was founded in 2006. Kelvin Fogwill, managing director, will continue to lead the business for HSS. The All Seasons brand name will be retained under the HSS parent brand, an approach that was adopted successfully on other recent HSS acquisitions including ABird, Apex and UK Platforms.
“HSS has a longstanding and successful relationship with All Seasons as a supplier to our OneCall business,” said Chris Davies, HSS CEO. “Their product range is highly complementary to our existing smaller-scale heating and air-conditioning rental business and is a strong addition to our Specialist division. Large-scale temporary heating and cooling capabilities are particularly valuable for facilities management clients and this acquisition strengthens our position as one of the major HVAC rental companies in the U.K.”
