5 May, 2005
U.K Acquisition of Plant and Tool Business
Ashtead Group plc announces that its UK subsidiary, A-Plant, has acquired the plant and tool hire business of Howard Plant (Poole) Limited for a consideration of £436,467 subject to a physical inspection of the assets being acquired.
The skip hire business carried on by Howard Plant (Poole) Limited will remain with the vendors and will move to a new location. Deferred consideration will be payable based on the next twelve month's hire income arising from the assets being acquired, subject to a minimum of £20,000. Turnover of the business being acquired was approx £600,000 in the year to 31 March 2005.
The new location complements A-Plant's South Coast businesses in Fareham, Southampton and Weymouth. A-Plant operates from over 200 locations in Great Britain and is a market leader in the provision of plant, tools and specialist equipment to over 40,000 customers in the construction, industrial, commercial, utility and homeowner markets.