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ALTRAD acquires Generation Hire & Sale Limited

ALTRAD acquires Generation Hire & Sale Limited

A deal was concluded on 30th March 2012 for an undisclosed sum.

Dr Altrad commented that this exciting acquisition provides a company that is strategically located for the convenience of the customers with a UK wide pool of expertise, while benefiting from the local knowledge and support.

Generation has approximately 220 employees and a turnover of about £37m per annum, operating through a national branch network supplying all forms of Non Mechanical Access Equipment, Scaffolding, System Scaffolding, Fencing, Specialist Light Access, Training and Groundwork products on a Hire or Sale basis.

The business will continue to operate from 14 locations around the UK with Mark Clifford Managing, Director and Alan Wilkinson, Commercial and Financial Director continuing to head up and grow the business with their dedicated team of employees.

“This acquisition forms part of the bigger plan to provide the UK market with products and services from Altrad who specialise in the manufacturing and sales of Scaffolding, Cement Mixers and Wheelbarrows, together with providing additional services in the Access sector” stated Ray Neilson, MD of Altrad Belle UK who has been assisting on the acquisition.

Altrad now has over 60 companies with the majority being located in Europe and several outside of Europe across the world.

“After 26 years of growth, the strategy of the Altrad Group remains to grow the business in a controlled and sustainable manner for the benefit of the customers, employees, shareholders and partners” stated Dr Altrad. The Altrad Group is 80% privately owned with the remaining 20% held by the French sovereign fund (Fonds Stratégique d'Investissement or FSI), Arkea and CM-CIC Capital Investissement.

Dr Altrad and Ray Neilson are very keen to hear from companies that are interested in joining the Altrad group if they are involved in any element of scaffolding, cement mixers or wheelbarrows.

2012 will again be a record year for the Altrad Group, with its head quarters located in Montpellier in the south of France. The strategy of the Altrad group has proved to be resilient even through a deep recession and the business is now well positioned for another substantial phase of growth both organic and through acquisitions.

Previously Dr Altrad has made successful acquisitions of BarOmix, Belle Group, Beaver 84 and NSG in the UK and this acquisition adds to the services Altrad can offer to the UK customer base. The businesses will all continue to work from their current locations with the skilled employees and any acquisition synergies will be limited to the products and services sourcing and the financing potential for the foreseeable future, thus ensuring the best possible customer service is delivered.

                                     www.Altrad.com                                     www.generationhireandsale.co.uk