HSS Hire Group plc, a leading provider of tool and equipment hire and related services in the United Kingdom and Ireland, has announced its intention to proceed with an initial public offering (the “Offer” or “IPO”) and to seek a listing on the main market of the London Stock Exchange. The Offer will comprise an offer of Shares to institutional investors and an Intermediaries Offer in which retail investors can participate.
HSS Hire is the second largest provider of tool and equipment hire and related services in the United Kingdom and Ireland based on revenues, the second largest provider of powered access equipment in the United Kingdom based on fleet size and the second largest provider of temporary power generation in the United Kingdom based on fleet size. HSS Hire has provided equipment hire services for more than 50 years, primarily focusing on the business to business market. Alongside traditional equipment hire, the Group offers a range of complementary, value-added services through its HSS OneCall, Reintec, TecServ, Groundcare and HSS Training businesses. The Group also offers specialist rental equipment under its ABird, Apex and UK Platforms brands.
HSS Hire operates from over 250 locations, serviced by a delivery fleet of over [375] commercial vehicles and approximately 2,900 colleagues, through a well-established hub and spoke distribution network comprising a national distribution centre, 10 regional distribution centres and 25 local distribution centres that aims to maximise equipment availability on an on-demand or next-day basis.
Between 1 January 2011 and 27 September 2014, Group revenues grew at a CAGR of [●]% and EBITDA grew at a CAGR of [●]%. HSS Hire’s market share in the UK increased from [●]% to [●]% (according to [●]) over the same period.