12.05.2015

Another acquisition for HSS

UK based rental company HSS has acquired All Seasons Hire, one of the leading heating, ventilation and air-conditioning rental companies in the UK, for a total cash consideration of £11.4 million.

All Seasons specialises in the supply and installation of temporary, large-scale heating and cooling equipment, including emergency boilers for facilities such as schools and hospitals, and backup cooling equipment and also offers smaller scale air-conditioning and heating equipment for use in offices and other buildings, complementing HSS’ existing range. Headquartered in Andover, the business has satellite operations in Dartford and Birmingham.

HSS is acquiring the entire share capital of All Seasons, with the consideration paid wholly in cash and funded from the group’s existing revolving credit facility. The acquisition is expected to be earnings enhancing within the current financial year.

In the past 12 months All Seasons had revenues of £4.9 million and an operating profit of £1.3 million. As of the end of March the gross assets employed were £4.7 million.

All Seasons was founded in 2006. Managing director Kelvin Fogwill, will continue to lead the business on behalf of HSS. The All Seasons brand name will be retained under the HSS parent brand, the same approach as that adopted on other recent HSS acquisitions including ABird, Apex and UK Platforms.

HSS chief executive Chris Davies said: “HSS has a long standing and successful relationship with All Seasons as a supplier to our OneCall business. Their product range is highly complementary to our existing smaller-scale heating and air conditioning rental business and is a strong addition to our Specialist division. Large-scale temporary heating and cooling capabilities are particularly valuable for facilities management clients and this acquisition strengthens our position as a one of the major HVAC rental companies in the UK.”