Balloo Hire acquired
We have learnt that Sammons Enterprises, owner of Briggs Equipment, has acquired Northern Irish rental company Balloo Hire.
While there is no official release yet, employees were informed on Monday morning and we believe that the completion will be due in April. Balloo is majority owned by managing director Dan Mccaffrey and was established in May 1987.
Revenues to the end of March 2018 were in the region of 11.6 million with a pre-tax profit of £2.9 million, with total assets of £23.3 million and a tangible net worth of £7.5 million. No details of the transaction have been released, although a later statement from Briggs Equipment stated: "The acquisition sees Balloo become a wholly owned subsidiary of Briggs, continuing to trade under its own name and with all current operational contacts remaining in place."
The company operates from five locations in the North – Belfast, Bangor, Lisburn, Ballyclare and Glenavy, with 120 employees and in the region of 10,000 items of equipment. It also has a location in Dublin, but we understand that the Dublin operation is not included in the deal: The company runs an extensive powered access fleet along with a full telehandler line up.
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(L-R)Peter Jones of Briggs Equipment and Dan McCaffrey of Balloo Hire
Briggs group managing director Peter Jones said: “Balloo is one of the largest and fastest growing plant companies in the Northern Irish market and Briggs is committed to investing in and nurturing the business. Our focus is to support Balloo in continuing to provide excellent levels of service to their loyal and growing customer base.”
Balloo managing director Dan McCaffrey added: “I am delighted to see the Balloo name becoming part of another equipment supply success story. Our two companies are a great fit for each other and this can only mean good things for our employees and customers as we look to continue a period of strong performance”.