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Ainscough Crane Hire ready for buy-out

The UK’s biggest hirer is set to be sold to its operational management in the next couple of days

Ainscough Crane Hire is expected to announce this week that it has been sold to a team led by finance director Neil Partridge.

The purchase price, which at one stage was thought to have reached £250 million, is now expected to be somewhat lower due to the ‘credit crunch’ that has affected confidence in financial markets on both sides of the Atlantic.

But the deal will bring considerable millions to each of the three Ainscough brothers who own the business, Martin, Brendan and James.

Industry insiders expect the business to float on the stock exchange within three to five years.

This would make Ainscough the first publicly-owned crane hirer since Baldwins went into administration in 2002.