Acquisition

Speedy Hire PLC
30 October 2006



                                                                 30 October 2006


                        Speedy Hire Plc ('Speedy Hire')


                    Acquisition of Lifting Gear Hire Limited


Speedy Hire is pleased to announce the acquisition from the Parkinson family of
the entire issued share capital of Lifting Gear Hire Limited ('Lifting Gear
Hire'), a specialist provider for the hire of lifting equipment and associated
services including the repair, maintenance, testing and inspection of lifting
equipment. Total consideration, subject to completion accounts, is £13.5
million. The consideration comprises £7.6 million in cash, the assumption of
estimated debt of £3.4 million on completion and £2.5 million satisfied by the
issue of 242,954 shares in Speedy Hire (the 'Consideration Shares').


Lifting Gear Hire is the UK's leading independent hirer of lifting equipment to
the on-shore market. The business also provides a full range of test and
inspection, calibration and training services to customers in the industrial and
construction sectors. Lifting Gear Hire operates from 34 UK depots where it
employs 309 people A further 26 are based at its head office in the North West
of England.


For the 10 months ended 30 April 2006 Lifting Gear Hire reported audited
turnover of £16.2 million with audited net assets as at the year end of
£2.3million. The acquisition will be marginally earnings dilutive in the current
financial year but Speedy Hire has a planned investment programme to bring the
performance of the business in line with other Speedy Hire businesses over the
next 18 months.


Application has been made to the UK Listing Authority and the London Stock
Exchange for the admission of the Consideration Shares. Admission of the
Consideration Shares, which will rank pari passu in all respects with the
existing shares in issue, is expected to become effective on 2nd November 2006.


Steve Corcoran, Chief Executive said:


'Lifting Gear Hire has long been regarded as the leading brand providing lifting
equipment hire, especially in the industrial services and manufacturing sectors.
Its operations and customer base are highly complementary to Speedy Hire's
existing specialist lifting business.


'The combination of Speedy Hire's hire expertise and Lifting Gear Hire's
technical reputation will produce an unrivalled ability to provide equipment and
services to fulfil customer requirements across the broad spectrum of customer
industries, product requirements and geographical locations'.


'I am pleased to welcome all employees of Lifting Gear Hire to Speedy Hire and I
look forward to continued growth within the enlarged lifting business.'




                                      -ends-

                             www.speedyhire.plc.uk

Speedy Hire Plc                                      Hudson Sandler
Steve Corcoran, Chief Executive                      Kate Hough/Beth Murray
Neil O'Brien, Group Finance Director
Tel: [phone]                                   Tel: [phone]



Note to editors:


Speedy Hire is the UK's No.1 provider of tools and equipment for hire. The
Company operates from over 300 depots throughout the UK. The Group has an
operation in the Republic of Ireland.


The Group's activities are the provision for hire of small tools, portable
accommodation, compressed air, pumps, lifting and material handling, survey and
measurement instrumentation and power generation equipment.




                      This information is provided by RNS
            The company news service from the London Stock Exchange