Speedy Lifting acquired the LGH sales and test and inspection branch network, LGH training, LGH engineering and LGH’s megalift industrial machinery moving operator together with all LGH facilities based on customer sites.
Speedy Hire operates two divisions, tool and equipment hire, through a national network of 361 depots. Both divisions experienced increases in revenues and operating profit, “achieved with strong and stable margins,” according to the year end report.
Revenue expansion was a combination of organic growth, including 7.3% like for like in the tool hire depots, 20 new greenfield sites and two significant acquisitions. The other was the £55m acquisition of LCH Generators Limited.
In the short term, the two businesses will run side by side as Speedy Lifting and Speedy LGH speedy lgh
