A-Plant Acquires Norwest Holst Accommodation Fleet For £5.8 Million
A-Plant, one of the country's largest plant and tool hire businesses, has purchased the portable accommodation fleet at Norwest Holst for a consideration of £5.8 million and entered into a new five year agreement under which A-Plant will supply Norwest Holst and its associated companies with all its site accommodation requirements on a sole supply basis. The new contract guarantees minimum future rental income of £5 million, but is expected to be worth significantly more than this.
A-Plant has been a major supplier of plant, tools and specialist products, such as falsework and formwork, powered access machines, power generation and welding equipment, to Norwest Holst since 1987, when it acquired the Norwest Holst plant and tool hire business known as Key Plant. Concurrently with the execution of the new site accommodation supply agreement, the existing plant, tools and specialist products supply contract has also been extended for a further five years.
Norwest Holst is a leading civil engineering and building contractor and operates nationally across the UK. Norwest Holst is a subsidiary of VINCI, the world's leading construction group.
Already one of the largest in the UK, the existing fleet holding at A-Plant Accommodation, part of A-Plant Specialist Products, numbers over 16,000 units and the acquisition of the Norwest Holst portable accommodation fleet represents a major expansion. The hire fleet of temporary building systems at A-Plant Accommodation is available nationally from 14 depots around the country.
A-Plant's Chief Executive Officer Sat Dhaiwal said: "We are delighted to complete this acquisition which further strengthens our relationship with one of our major customers whilst at the same time enhancing our position within the market place."
A-Plant's Accommodation fleet covers the complete range from modular buildings, anti-vandal units and fire-rated units to serviceloos, security stores and mobile units to serve and solve the needs of both the construction and industrial markets. Modular buildings offer an economical alternative to traditional buildings with much reduced timescales and portable anti-vandal units provide instant accommodation solutions, without compromising on quality or comfort.
Mobile units are ideal for businesses on the move and combine the features of static units with the flexibility to travel freely. Serviceloos offer instant hygienic toilet facilities with the benefit of weekly maintenance and complement a range of event hire units, specifically designed for the leisure industry.
A-Plant, which forms part of FTSE-250 company Ashtead Group plc, this year won the Hire Company of the Year (over five outlets) Award from the Hire Association Europe (HAE), the leading trade association for hire and rental companies in the UK and Ireland.
A-Plant, which has some 30,000 customers in the construction and industrial markets, has recently launched one of its most important customer service initiatives ever, the new A-Plant Guarantee. The first of its kind in the industry, the A-Plant Guarantee provides customers with guaranteed service levels with regard to Delivery, Service, Availability and Out-of-Hours Response. If A-Plant does not fulfil these service levels, the customer is offered a free hire or free delivery of a range of guaranteed stock items.