HSS Hire, one of the U.K.’s largest equipment rental companies, was acquired by Exponent Private Equity. The company was previously owned by Perry Capital and Och-Ziff Capital Management, which acquired the company from another private equity firm 3i in 2007, which had bought HSS from the Davis Service Group in 2003.
“This transaction and future support from Exponent will help us unlock fresh capital needed to realize the next phase of our growth plan,” said HSS CEO Chris Davies. “We believe there is enormous potential for the business to grow further.”
“It is clear that under Chris and his team’s leadership the business has made excellent progress against its strategic development plan and is well positioned as a trusted partner,” added Oliver Bower, an Exponent director.
HSS posted £180.3 million (about U.S. $290 million) in revenue last year, a 5-percent increase from the previous year. The London-based company has 230 locations in the U.K. and Ireland.
For more information, visit http://www.hss.com.
