Briggs Equipment acquires Hiremech Ltd
03 January, 2019 by Kathryn Hyde
As part of its growth strategy, Briggs Equipment has acquired Hiremech Ltd, enhancing its coverage and strengthening its presence in London and the South East. Completion is expected to occur no later than 2nd January 2019.
The independent dealer based in North London will become a wholly owned subsidiary of Briggs and will continue to trade under its own name with all current operational contacts remaining in place. Following completion of the acquisition, Hiremech Ltd will represent the Hyster and Utilev brands of fork lift trucks as well as having access to Hako and JLG Equipment. Briggs recognises that Hiremech has produced consistent revenue and profit growth in recent years and believes that through being part of the Briggs group, Hiremech can fulfil its full potential going forward.
Peter Jones, Group Managing Director of Briggs Equipment commented, “We are delighted to be able to make this announcement and to welcome the team at Hiremech on-board. Bringing together two businesses with a breadth and depth of industry knowledge allows us to lay strong foundations to offer stronger support to our customers, improve efficiencies, benefit from economies of scale, and increase our market awareness and share for the future. Briggs are committed to meeting our owner Sammons Enterprises’ core objectives and providing a strong return on their investment, and this acquisition supports that objective.
“We expect that Hiremech’s existing customer base will benefit from greater flexibility in financing, a wider choice of machines on long term rental and access to an extremely diverse range of equipment from Briggs’ Short Term Hire fleet.
“The culture and values of Hiremech are already strongly aligned with those of Briggs and Sammons, demonstrated through their work with local communities and their focus on people and safety. With the support and financial backing of the new parent companies, Hiremech will be better placed to optimise their positive impact on communities and charities within their area.”
Paul Green, Managing Director of Hiremech added, “The acquisition of Hiremech by Briggs is great news for our loyal employees and customers. This will mean we can continue to strengthen our position in the local market through the support and benefits that come from being part of a national business.
“We look forward to representing a strong brand in Hyster, and an even broader portfolio of complementary products.”