Ashtead plc, parent company to Sunbelt Rentals and U.K. rental company A-Plant, has acquired some of the assets of Hewden, one of the U.K.’s largest equipment rental firms. Ashtead bought Hewden’s powered access and power generation fleet, five onsite locations that service major petrochemical customers, the Hewden brand name and its Interlift lifting and material handling business.
Ashtead is buying the assets from Hewden’s administrators EY. Some of the Hewden employees will join the A-Plant business. A-Plant’s chief executive Sat Dhaiwal said the acquisition enhances A-Plant’s offering in the industrial sector particularly. “We are pleased to be taking over a number of important onsite depots and major petrochemical facilities and will ensure that a high level of service is maintained for all customers through the integration process,” said Dhaiwal.
EY was appointed as administrators to Hewden earlier in the week, attempting to reshape the business to focus on higher margins and better returns on assets and services. Hewden said last month that it was hit hard by market uncertainty in the U.K. in the wake of the Brexit vote to leave the European Union, which, the company said at the time, adversely affected a number of large construction and capital investment projects.
