This week Banner Plant augmented its plant and tools offering through the acquisition of Premier Plant. This marks the latest takeover in a flurry of acquisition activity following the collapse of Hewden Stuart in Q4 last year.
It appears that smaller organisations are struggling to maintain their share of the fragmented UK plant-hire market at a time when local authorities and construction companies are consolidating their supplier lists in an effort to reduce overheads. In a year where the UK is looking to distance itself from Europe, the indicators are that the domestic plant-hire market is becoming much more like our continental neighbours; where only the companies that can operate as a one-stop-shop on a national level will retain any hope of competitive advantage.
We expect further acquisitions to follow over the coming months.
Sheffield-based Banner Plant, part of the Henry Boot group, has acquired Leicester’s Premier Plant & Tool Hire for £2.8m. The vendor, Rob Hughes, who has run Premier Plant for 17 years, is remaining with the business as general manager of the Leicester operations. Under Banner ownership, Premier will now also offer powered access, site accommodation and large compressors. Banner Plant managing director Giles Boot said: “The fact that Rob Hughes chose Banner to continue Premier’s development speaks volumes for the respect we have for each other’s businesses. I would like to welcome Rob’s team and I encourage them to continue their dedicated approach to customer service. Together, under the Banner brand, we are a stronger proposition in both Leicestershire and our current area of operations.”