£15.4m turnover tool hire company goes Dutch

Stockport-based tool hire company Supply UK Group has been acquired by Dutch counterpart Boels Rental for an undisclosed sum.

Supply UK was founded in 1998 and operates from 25 locations across the UK. It had a turnover of £15.4m for the year to the end of April.

Its managing director Chris Haycocks will continue to lead the company which will rebrand as Boels.

Haycocks said: “Boels’ investment will enable us to offer an ever-increasing selection of new equipment during our next phases of growth.”

Corporate partner Mark Winthorpe led the Pannone Corporate team which advised the shareholders of Supply UK.

He said: “The dynamic management team at Supply UK has grown the business into a leader in the tool hire industry and the acquisition  by Boels will enable it to further develop its services and reputation for providing the highest level of customer service in the sector.”
Ed Brentnall of Dow Schofield Watts carried out financial due diligence and Mike Blood and Sara Bluston of JMW provided legal advice to Boels.