Acquisition

Speedy Hire PLC 01 September 2003 1 September 2003 Speedy Hire Plc Acquisition of St. Vincent Plant ('SVP') Speedy Hire announces the acquisition of the business and certain assets of SVP for a cash consideration of £2.2 million. SVP is the hire business of the Clugston Group, a sizable North Lincolnshire based private construction company. SVP is a well-respected and successful business that operates from seven branches in Yorkshire and Lincolnshire and will significantly strengthen Speedy Hire's presence in the region. Following the pattern of other successful transactions, Speedy Hire has entered into a three year £1.1 million per annum trading agreement with Clugston Group. This agreement significantly increases Speedy Hire's trade with the Clugston Group. John Brown, Chief Executive, said: 'We are pleased to have a long term relationship with such an established company as Clugston Group. The new depots will strengthen our depot network and this is another step towards our target of 400 depots in the UK' -ends- Speedy Hire Plc Hudson Sandler John Brown, Chief Executive Nick Lyon / Wendy Baker Neil O'Brien, Group Finance Director Tel: 020 7796 4133 Tel: 01942 720000 Notes to editors: Speedy Hire is a leading provider of equipment hire services to UK contractors and builders, industry, utilities and the public sector, operating from over 250 depots throughout the country. The Group is focused primarily on tool hire, with complementary businesses specialising in portable accommodation, surveying, lifting and power generation equipment. This information is provided by RNS The company news service from the London Stock Exchange

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