Speedy Hire, the U.K.’s largest tool and equipment rental company, last week said its managed services division — which sources equipment from other suppliers on its customers’ behalf — has reached the landmark volume figure of £25 million (about U.S. $40.3 million). The division enables Speedy to supply a wide variety of specialist equipment to its customers through a range of partnerships with other market-leading specialists.

By procuring third-party equipment through Speedy, customers benefit from guaranteed quality, reliability and range of coverage, the company said.

The service is tailored to specific customer needs covering powered access, heavy equipment and waste management from multiple partners, including Lavendon, One Call Hire and Nixon.

“Our clients have been entering joint ventures for years and we have adopted a similar stance acting as lead partner,” said Tom Gleeson, operations director, managed services at Speedy. “A rigorous selection process, followed by regular audits of the equipment supplied, ensures that it is fit for purpose at all times and meets both environmental and commercial performance targets.”

“Partnering with Speedy has opened up a new customer base for the Lavendon fleet, offering a significant new revenue stream,” said Lavendon’s U.K. chief executive Andy Wright. “Partnerships such as this are allowing the hire industry to best serve clients’ needs, which in turn benefits all involved."