This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

New owner agreed for working at height equipment provider

23 July 2018

Nationwide Platforms will be the new owner of UK Platforms, after a price of £60.5m was agreed with the company's current owner, HSS Hire.

It has owned UK Platforms since 2013, according to Insider Media, and has a fleet of approximately 3,000 powered access machines.

The company's new owner, Nationwide Platforms, is a wholly-owned subsidiary of the Loxam Group.

It has confirmed a long-term agreement with HSS Hire to provide powered access equipment.

Following the announcement, it was further stated that the proceeds from the sale would be used by HSS Hire to reduce debt.

This is part of the company's stated intention to both reduce its overall debt and place more focus on its core tool hire business.

Final confirmation of the deal is subject to the receipt of the approval of the company's shareholders.

Its chief executive Steve Ashmore described the announcement as "another step forward" in achieving strategic priorities of "deleveraging" and placing more focus on the core business.

"The UK Platforms business has made an excellent contribution to the group over recent years but considering our priorities and focus on tool hire we feel it will reach its full potential under new ownership.

"We will continue to provide our customers with all of their powered access needs through our existing fleet and the new strategic partnership with Nationwide," said Mr Ashmore.


Print this page | E-mail this page

MOST VIEWED...


Article image Why the Law Says You Need a Nappy Bin Disposal Service

At home, parents are used to disposing of their babies’ used nappies the same way they do any other domestic waste - bagging it up and sticking it in the rubbish for general collection.Full Story...

Article image Importance of compliance further confirmed by recent asbestos cases

Two incidents involving asbestos in buildings have further emphasised the need for vigilance in all areas of the FM sector to provide protection for building users and avoid the potentially damaging results.Full Story...

PTSG installs lightning protection at Faraday's former place of work

Finalists announced for the PFM Partnership Awards 2018

Management auditing systems overhaul announced

http://www.fsifm.comhttps://www.abm.co.uk/https://www.emergencyuk.com/pfmb18