HSS expands in Ireland
HSS Hire has acquired Laois Hire Services of Portlaoise, in the republic of Ireland. Laois hire was established in 1989 by Michael and Maureen Killeen and now operates from three locations with revenues in the region of six million euros and 42 employees.
The company’s fleet includes, telehandlers, powered access and Scaffold, in addition to general plant and tools.
HSS managing director Paul Nolan said: “The amalgamation of the three Laois Hire outlets into the existing HSS network in Ireland will underpin the position of HSS as the leading player in the Irish tool and plant hire sector. Laois Hire is an outstanding business with significant potential to increase our Irish market share".
"We are delighted that Michael and Maureen Killeen together with their management team have agreed to remain with the company to further develop the business.
Laois Hire has a strong market position in the midlands and its central location will act as a major hub providing larger plants for our Irish branches and its acquisition is in line with our strategic development plans for Ireland”.
Martin Rafferty of AIB Corporate Finance who brokered the deal, added: “This transaction follows other recent transactions in the construction and building materials sectors including the acquisition of the Heiton Group by Grafton”.
The purchase price was not disclosed but local sources estimate that the transaction was worth in excess of € five million