Speedy Hire has entered into a five-year “strategic supply agreement” with building and environmental services provider Connaught plc. The agreement will run through 2015 and is estimated to be worth more than £20 million.

Under the terms of the agreement, Speedy will be Connaught’s exclusive provider of tools and equipment rental across the U.K., operate a single dedicated hire desk and acquire, under an outsourcing arrangement, a range of equipment currently operated by Connaught in-house to a maximum value of £1 million.

The agreement builds on a contractual relationship between the companies established in 2008.

“We are delighted to be able to announce the latest in a string of long-term contract extensions with a client with visible workflows and strong growth prospects,” said Speedy Hire chief executive Steve Corcoran. “Clients such as Connaught continue to see the benefit and value of our network and service offering, our fleet investment, our award-winning safety and environmental support programs and our industry-leading IT infrastructure.”

Speedy Hire is based in Newton-le-Willows, Merseyside, U.K.