BLACKROD-based Allen Plc has acquired the entire issued capital of Tidy Group Ltd for £1.819m.
Tidy, which was established in 1973, operates from nine depots throughout the Midlands in Ashbourne, Belper, Burton-on-Trent, Lichfield, Newhall, Nottingham, Uttoxeter and Derby (two).
The Tidy outlets will be integrated into Allen's Speedy Hire Centres national network.
Tidy, which had net assets at May 31 of £525,000, is involved in a similar business to Speedy through the hire of small tools and equipment to a wide range of customers including building contractors, industrial companies and DIY enthusiasts.
Donald Greenhalgh, the chairman of Allen, said: "This latest acquisition significantly strengthens our position in the Midlands.
"Together with the recently-opened Speedy Hire Centres depot in Manchester (Central) and two new Speedy Plant depots in Manchester and Kendal, the acquisition brings the total number of hire depots operating the Speedy banner to 114."
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