HSS new owners plan expansion
Published: 29 October, 2012
TRAFFORD PARK: HSS Hire Service Group has been bought by private equity firm Exponent has been acquired for an undisclosed sum. Chief executive Chris Davies said Exponent's backing would also enable HSS to seek potential acquisitions and roll out a new branch format.
HSS plans to double capacity at its equipment refurbishment centre in Trafford Park and take on staff at its call centre in Urmston to grow key accounts.
HSS was owned by hedge fund Och-Ziff and Aurigo which paid £310m for the business in 2007. HSS posted sales of £180.3m last year and profits of £39.9m and expects to achieve further growth this year.
Mr Davies said: "HSS is enjoying great success and the company continues to go from strength to strength. This transaction and future support from Exponent will help us unlock fresh capital needed to realise the next phase of our growth plan."