Ashtead Group PLC Acquisition (8407P)
November 22 2016 - 7:09AM
UK Regulatory
TIDMAHT
RNS Number : 8407P
Ashtead Group PLC
22 November 2016
Ashtead Group plc
Acquisition of assets from the administrator of Hewden
Ashtead Group plc announces that its UK business, A-Plant, has
today acquired certain assets from EY, the administrator of Hewden,
for a cash consideration of GBP29m. The assets acquired comprise
the powered access and power generation fleet of Hewden, five
"on-site" depots which service major petrochemical customers, the
Interlift lifting and materials handling business and the Hewden
brand name. Alongside the asset purchase a number of Hewden's
employees will be joining the A-Plant business.
A-Plant's chief executive Sat Dhaiwal, commented:
"This acquisition significantly enhances A-Plant's offering in
the industrial sector where we have been keen to develop our
capabilities for some time. We are pleased to be taking over a
number of important on-site depots at major petrochemical
facilities and will ensure that a high level of service is
maintained for all customers through the integration process. I
would also like to welcome those Hewden employees who will be
joining A-Plant as part of this process."
Further enquiries:
Ashtead
Will Shaw Group plc +44 (0)20 7726 9700
Becky Mitchell
/ Tom Eckersley Maitland +44 (0)20 7379 5151
This information is provided by RNS
The company news service from the London Stock Exchange
END
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