Speedy Hire

Speedy Hire plc
Public (LSE: SDY)
Industry Support Services
Founded 1977
Founder John Brown
Headquarters Haydock, United Kingdom
Key people
 Jan Åstrand (Non executive Chairman of the board), Russell Down(CEO)
Products Tools, Access, Welding, Lifting & Materials Handling, Safety, Survey, Temporary Accommodation, Communications, Rail, Generators, Pumps, Compressors, Training, and complementary services
Revenue £375 million (year - Mar 2015)[1]
Number of employees
 4,000 (2010)
Website www.speedyservices.com
Speedy Hire in Basingstoke

Speedy Hire (LSE: SDY) (Speedy) is a provider of equipment rental and support services based in the United Kingdom to clients across the construction, infrastructure, industrial, manufacturing, facilities management, retail, leisure and events sectors, as well as to local trades and industry.

The company was founded in Wigan in 1977, and now operates from over three hundred fixed sites, together with a number of on site facilities at client locations in the United Kingdom, Ireland and the Middle East.

The company supplies;

  • the hire of small tools and equipment
  • surveying and measurement instrumentation
  • lifting and materials handling equipment
  • powered and non powered access equipment
  • temporary accommodation
  • compressed air
  • temporary power generation
  • mechanical pumps
  • temporary site communications

The group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM), as well as offering advisory services in areas such as health and safety, environmental and regulatory compliance.

Business issues

In 2016, Speedy Hire cut almost three hundred jobs, and reduced its fleet in a bid to curb its overheads.[2] In order to further reduce costs, in September 2017, the Speedy Hire board decided to sanction the closure of one of their seven regional repair Workshops, in Normanton, West Yorkshire. This workshop was only opened in 2015.

When Carillion went into liquidation in January 2018, Speedy Hire was among the first firms to report potential losses (around £2m) due to non payment of Carillion debts.[3]

References

  1. ↑ "Results for the year ended 31 March 2015". Speedy Hire.
  2. ↑ Bury, Rhiannon (2017-09-19). "Speedy Hire cost-cutting plan begins to bear fruit". The Telegraph. ISSN 0307-1235. Retrieved 2017-12-13.
  3. ↑ Morby, Aaron (16 January 2018). "Carillion fall-out hits Van Elle and Speedy". Construction Enquirer. Retrieved 16 January 2018.
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