Exponent buys HSS in SBO

The management will be reinvesting in the company following the transaction. The company plans to embark on its next phase of growth.

Previous investment
A consortium consisting of Aurigo Management, Perry Capital, Bank of Scotland Corporate and RIT Capital Partners, alongside Och-Ziff Capital Management Group bought HSS Hire in 2007 for £310m from 3i.

Company
HSS Hire rents out equipment and tools to big businesses, trade and DIY customers. The company was formed in Kensington in 1957. The group has established a nationwide network with 230 distribution centres and a fleet of over 500 liveried vehicles operating in the UK and Ireland. It currently employs 2,000 people.

Last year the company delivered sales of £180.3m, up 5% from the previous year, with profits of £39.9m.

People
Chris Davies is chief executive officer at HSS. Oliver Bower is director at Exponent.

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• Exponent Private Equity
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