HSS Hire, the United Kingdom’s second largest equipment rental company, is preparing for an initial public offering to raise about £100 million (about U.S. $157 million). The company is looking to sell about a quarter of the company and reduce its £200 million debt load, according to U.K. new reports.
HSS Hire has about 265 branches in the U.K. and hopes to increase to 500 over the next four years, according to chief executive Chris Davies, adding that lower interest payments would enable the company to invest in growth initiatives.
HSS reported 17 percent growth in revenues for the year to September and expects the market to grow at a rate of 4 to 5 percent a year for the next two to three years.
