12.10.2022

NMT to restructure its fleet

UK crane rental company NMT is to sell 13 mobile cranes from its fleet at an auction to be held on the 10th of November at its yard in Bedford.

The company has appointed Euro Auctions hold and run the sale, which will also include commercial vehicles, trailers, rigging and various other accessories. The sale is part of a major fleet rationalisation and refreshment programme in preparation for the transition to the next generation of the family. In the latest Cranes & Access Top 30 survey of UK/Irish crane rental companies, NMT reported a fleet of 30 cranes - 25 All Terrains and five mobile self-erecting tower cranes. We understand that the fleet is actually slightly larger at around 34 or 35 units
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NMT began trading around 45 years ago, when brothers, Nick, Mark, and Tim Ambridge decided to branch out from the family recovery business. Tim Ambridge said: “In the last 45 years we have built a highly respected business and are well known in the industry, and now my brothers and I want to take things a little easier. So, we want to create a change in the business, passing the baton on to the next generation of the family, so that they can build on what we have done and take it forward. In order to achieve this, we are rationalising and refreshing our fleet, making way for four new cranes which we have on order for delivery in 2023.

The cranes in the sale will be as follows
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David Betts of Euro Auctions added: “We are delighted to have been appointed by the directors of NMT Crane Hire to handle this sale. We have gained a reputation for conducting lifting equipment sales in the UK, having conducted all the major crane auctions in 2022. There is bound to be much interest in the lots that will go under the hammer on 10th November, and we are expecting a large audience to register for this sale.”

The sale will take place at the NMT Crane Hire depot in Windsor Road, Bedford, on the 10th of November, with viewing days on the 8th and 9th November, when prospective bidders can visit site and view the lots for sale. This will be a live auction, which will also be streamed live on the Euro Auctions online bidding platform.
You can register for a Bidder Number for this sale at www.euroauctions.com/en

Vertikal Comment

This a substantial move by NMT and an interesting approach, it clears out almost half the fleet, all of them more than five years old. It also comes at a time when Sterling is weak and as such will appeal to many overseas buyers. Given the challenge of recruiting operators, it will give the family an easier ride over the winter period with a few more brand new cranes due to arrive in the spring. One can see the attraction and sense of such a move, especially at a time when several other companies are struggling to stay in business.

We will of course report on the results of the auction shortly after the sale.