Already Hire has four depots: Slough, Heathrow, Dartford and London City. In the year to 31stMarch 2017 it experienced a 65% fall in operating profit to £180,000 on turnover static at £6.0m. Pre-tax profit was £11,683 (2016: £303,834).
Boels’ purchase of Already Hire Ltd follows on from its acquisition of Supply UK Hire Shops Ltd in April 2017. It now has a depot network of 29 locations in the UK, including five in Greater London.
Already Hire director and co-owner Jim McKeogh will stay on to develop the London region for Boels, while fellow owners Trevor Goodwin and Charles Patience are retiring.
Boels said that it wanted “to retain the culture and strengths of this well-established business and build further on this through increased investment and a further widening of its offering”.
Boels Rental is one of Europe’s leading plant and tool hire companies, with more than 400 branches and 3,500 staff across 17 countries. It generated a turnover of €445m in 2017.
Terms of the Already Hire acquisition were not disclosed.