13.08.2004

Sam Hire, Chadwicks and Jacksons come together

The Heiton group plc has recommended the takeover bid from Grafton Group Holdings to acquire the approximately 70 percent of the shares in Heiton that it does not already own.

The offer values the company at €339 million (£223 million)
The combined group will have annual sales in the region of € two billion, the main activities of the two groups are branded builders merchants in Ireland and the UK but both have significant rental operations and are a relatively large, if fragmented, provider of access equipment.

Heitons has concentrated its rental activities under Sam Hire which rents out tools and general plant and is a significant player in the Powered access and alloy tower market in Ireland with 13 locations.

The Grafton group own Chadwicks and Woodies in Ireland. Chadwicks has a significant powered access and scaffold division in Ireland with 12 locations. In the UK Grafton brands include: Jacksons, Buildbase, Hirebase and Plumbase. Jacksons Hire operates from 18 locations in the UK while Hirebase currently operate from only 12 of Buildbases 121 locations both companies have significant Ally tower and powered access fleets.

If the combined groups access rental operations were combined the company would be well up the Cranes&Access Top 20 chart of UK/Ireland access rental companies.

*The 2004 Top 20 report will be published in the September issue of Cranes&Access.