Tool hire business expands with new acquisition
Independent tool hire firm GoHire, has taken over the Grimsby depot of Caspian Access and Plant Hire, marking the start of major plans to expand into the wider Humber Region.
The firm supplies customers within the construction industry as well as the renewables market.
GoHire Hull completed the acquisition this month to include all assets and employees.
Over the next 24 months Sally Wray, managing director of GoHire and Neil Garrison who is managing director of Caspian will continue working together through a period of transition.
Wray said: “It has always been my ambition to create new branches for GoHire, since purchasing Arnott Tool Hire in 2015 and now plans are coming to fruition.
“We already had a great relationship with Caspian as one of their customers on the scaffolding side, so when the opportunity came up to purchase their tool hire business, I didn’t have to think twice as the investment is made safe from both sides.
“Caspian Access and Plant Hire provides a very similar service to GoHire with the hire and sale of a range of equipment, as well as on-site repair services from a trained and experienced team.”
“We plan to rebrand the Grimsby premises before the end of the year, by which time we could also have news on a third regional depot.”
In 2015, Wray was new to the industry, having previously worked in adult education and Local Government.
She said: “Looking back I was completely out of my depth but I enrolled in business programmes with For Entrepreneurs Only and the Goldman Sachs 10,000 Small Businesses.
“Both support entrepreneurs to create jobs and economic opportunity by providing greater access to education, capital and business support services.”
“We were fortunate to recruit Rob Thompson, depot manager with over 30 years’ experience in the industry.
“Rob will be a stakeholder in the business as a partner in the GoHire group, which will ensure the same outstanding levels of customer service he has provided and in the future.”
GoHire’s acquisition of Caspian includes five Grimsby-based employees, two vehicles and the comprehensive hire fleet.
Garrison said: “We have worked with Sally and the team at GoHire for many years and enjoyed watching the business grow.
“This investment helps to consolidate our business in Scunthorpe where we concentrate on the supply and manufacture of scaffolding equipment.
“I am pleased to hand over the reigns to Sally, her business model looks certain to propel GoHire on to big success.”
Speaking of the last year in business, Wray added: “2020 has been intense, yet despite the pandemic the construction industry in the Humber region remains buoyant.
“At the beginning of lockdown we went quiet for a couple of weeks but in April we attracted a whole new audience – folks making changes to their homes and gardens during lockdown, taking on some serious DIY.
“As construction returned we have taken on more new account customers which meant September has been a record month for GoHire Hull.
“Approximately 95% percent of our business continues to come from trade customers in construction and renewables and a small proportion from the residential market.”