Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Cox Plant hits the skids despite spurt of growth

ONE OF the oldest names in the plant hire industry, Cox Plant - which trades as Cox Hire Centres - has fallen into administration.Administrators Ernst & Young are looking to sell it as a going concern.

The West Midlands company was reformed as Cox Plant in 2002 after it was bought from Andrews Sykes for £9.3 million by a management buyout that included Keith Price, Paul Bamford and David Symon, backed by the Royal Bank of Scotland.

The trio built the company up to be a national plant hirer with ambitions to catapult the business back into the top 10.

At the time of its last accounts for the year ending March 2003, it nFrom page 1 swelled its depot network to 28 after a spate of acquisitions.These included Surrey firm Elmbridge Plant and Stroud's Freeway Abba.

Its biggest buy was Llewellyn Plant from the Rok Group, through which it struck a threeyear sole supplier agreement. Cox operates from three bases in London, Milton Keynes and Eastbourne.

In the year ending March 2003, the company made a pre-tax profit of £412,697 on a £15.6 million turnover, which has since fallen to £8 million and its network has shrunk to just 11 depots.