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Speedy buys Gleeson plant arm

Hire firm Speedy Hire has swooped in to buy Gleeson's plant hire business for £8.2 million in cash.
Following the acquisition, Speedy Hire announced a five-year supply contract with Gleeson worth £6 million per year. Speedy Hire will provide equipment through a hire desk dedicated to Gleeson.

The assets bought by Speedy Hire in the deal are worth £4.2 million.

The deal comes as Gleeson is in talks with a management buyout team about the sale of its building division.

Money made from the deal is set to be invested in Gleeson's house building and property activities.

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