Plimsoll report highlights takeover targets and potential buyers

One in nine UK plant hire companies could change ownership as a result of the recession, according to a study from Plimsoll Publishing. It identified 159 hirers with sizeable cash reserves (one with £195m in the bank) that are in the position to buy-up large chunks of market share at rock-bottom prices.

Report author David Pattison said: "Any director worth his salt would agree that, in the current climate, there are simply too many companies chasing too little market. With many directors eyeing the exit doors and highly leveraged buyouts consigned to history for the time being, it really is a buyers' market out there for cash-rich companies."

The report analysed 616 companies with turnovers above £1m and highlighted 109 prime targets. "Buying one of these businesses represents a massive opportunity for someone to enhance their share of the market," he said.