Independent Plant Hire Group
Independent Plant Hire Group is a platform company executing a buy & build strategy in the plant hire sector with a focus on quality, regional hirers of contractors plant.
We have currently completed 3 acquisitions. SRBE also has a local builders’ merchants serving Milton Keynes contractors.
ACQUIRED:
April 2016
TURNOVER:
£10 M
WEBSITE:
First Steps
Merino and our co-investor & incoming Managing Director acquired SRBE, based in Milton Keynes, in 2015 from a larger construction business looking to divest a non-core asset.
Building Momentum
IPHG acquired Morgans, a small local competitor, in late 2016 and acquired Jovic off of the retiring family in late 2017. This doubled the size of the business & expanded our geography from Milton Keynes & North of London towards Essex & the East.
Plant & Machinery
The business currently has thousands of pieces of kit and approaching 400 excavators & a comparable number of dumpers. The core product is 3T to 8T excavator but the business can supply all customer needs.
The business journey
Acquisition of SRBE and new management introduced to the business.
Acquisition of Morgans, a competitor local to SRBE. IPHG upgraded the plant & worked hard to introduce the Morgans customer base in to the SRBE network.
IPHG completes the acquisition of Jovic & expands its presence into the East of the UK. The MD of Jovic joins IPHG as the lead of operations & all staff are retained as part of the acquisition.
IPHG continues to look for acquisitions and bolt ons in the sector, with a loose focus on within 100km of the M25 ring road. Please get in touch at contact@merinocapital.com if you are looking to sell your plant hire business or represent a prospective vendor.
Extension to existing geography with the business based near Heathrow, London. Thames Valley Hire has been established since 1987 with a focus on smaller excavators, dumpers, and tools.