Equipment hire business accelerates growth with six-figure funding boost
Halt Hire is expanding its equipment range and increasing headcount after receiving a six-figure investment from NPIF – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund.
The business, which provides access equipment and support to the mechanical, electrical, construction and engineering market sectors across the UK, has experienced significant growth year on year.
As a result, the funding will be used to purchase new equipment to meet the increasing demand for its services.
The company has created two new jobs at its Stockton-on-Tees site and opened a new branch in Barnsley, which has created a further three jobs.
Founded in 2016, Halt Hire is led by managing director Simon Whitfield who has over 28 years’ experience in the construction and equipment hire industry.
His senior management team have a combined 60 years’ experience in delivering products to the sector.
The business has a turnover of £1.2m and today employs nine people. Products for hire include scissor lifts, access platforms, toilets, heaters, diggers, dumpers, and small power tools.
The business also sells the consumables needed to power or heat generators with a range of gas cannisters available.
Whitfield said: “Over the last year we have seen unprecedented growth and taken our fleet stock holding to over 3,500 products, and it is rising.
“We aim to offer the highest quality products at competitive rates to our customers and the funding boost from NPIF – FW Capital is allowing us to expand our range of products.
“We’ve grown significantly and created new jobs to meet the increased demand for our services and are happy to open a new branch in Barnsley.”
Adam Collin, portfolio executive assistant at FW Capital, said: “Halt Hire is a well-established and respected local business and a great example of how funding can be used to help growth.
“By creating new jobs and purchasing additional equipment, Halt Hire is well placed to increase sales and drive future success.
“Their success is further seen with the recent expansion of the business with the launch of the Barnsley branch.”
Debbie Sorby at British Business Bank added: “Halt Hire’s commitment to providing essential equipment and support to the construction and engineering sectors fuels economic growth within the region, as well as sets a striking example of the UK actively working towards sustainable development goals.
“By meeting the rising demand for their services, the company not only thrives as a business but also catalyses job creation in regions like Stockton-on-Tees and Barnsley, bolstering local economies.”
