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
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Acquisition of SRBE and new management introduced to the business.
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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.
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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.
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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.
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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.