Speedy Hire acquires Clugston Group's hire arm

Speedy Hire has acquired SVP, the hire business of the Clugston Group, for £2.2m.

"SVP is a well-respected and successful business that operates from seven branches in Yorkshire and Lincolnshire and will significantly strengthen Speedy Hire's presence in the region," said Speedy Hire.

Following the pattern of other successful transactions, Speedy Hire has entered into a three year £1.1m per annum trading agreement with Clugston Group, a North Lincolnshire-based private construction company. This agreement significantly increases Speedy Hire's trade with the Clugston Group.

John Brown, chief executive, said: "We are pleased to have a long term relationship with such an established company as Clugston Group. The new depots will strengthen our depot network and this is another step towards our target of 400 depots in the UK."