SURREY, U.K. — HSS Hire recently signaled its intention to expand internationally by buying a 25-percent stake in its Spanish franchise operator Rentecnika Iberica.

Founded in 1994, Rentecnika Iberica has 14 branches in several Spanish cities including Madrid, Barcelona and Valencia — branded as HSS Hire Shop.

HSS general franchise manager Michael Bellenger confirmed that the agreement with Pujol-Xicoy was a significant new strategy for HSS.

“Since the change in management structure, HSS' board has consistently emphasized a need to concentrate on the core domestic market,” said Bellenger. “We have now seen significant improvements in these areas of operation.

“The decision to invest in Spain indicates HSS' willingness to share the risk and get directly involved in accelerating the growth of a company that already has a formidable presence in the country. Within Spain there is an unprecedented amount of building work on homes, businesses and the national infrastructure. The chance to become involved with this boom industry was simply too good an opportunity to miss.”

The move is the first since last year's high profile management buyout of HSS that underlines the company's commitment to develop its international portfolio, currently covering nine countries from the West Indies to the Middle East. HSS is in the process of divesting its RentX operations in the United States.

“It makes perfect sense that we combine the strength of our brand and international tool hire experience with the entrepreneurial skills of independent tool hire specialists to maximize the opportunities as markets worldwide become more attuned to the concept of tool hire rental,” said Paul Nolan, HSS CEO.

HSS has more than 500 stores worldwide.