20% Q3 lift for HSS Hire

TOOL and equipment firm HSS Hire has reported strong third quarter growth.

The private equity-backed company which has more than 250 branches nationwide said revenue increased 20.4% to £77.9m in the three months to the end of September.

HSS said 17.2% was down to organic growth with the rest coming from the acquisitions of Apex Generators and TecServ.

Earnings before interest, tax, depreciation, amortisation and exceptionals increased by 21.2% to £22.9m.

In the nine months to September the business saw turnover increase by 28% to £208.5m.

Chief executive Chris Davies said: “These strong results demonstrate the effectiveness of our customer-centric approach and primary focus on the maintain and operate segments of the tool hire market. Looking ahead, we remain confident about the potential of our long-term strategy to continue to generate strong revenue growth and high returns on capital.”
 
Private equity firm Exponent acquired the group in October 2012.