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November 22, 2016

A-Plant buys Hewden assets

Filed under: Latest News — EHN Team @ 3:58 pm

Ashtead Group’s UK business, A‐Plant, has bought some of Hewden’s assets from its administrators, EY, for a cash consideration of £29m.

The assets acquired comprise the powered access and power generation fleet of Hewden, five on‐site depots which service petrochemical customers, the Interlift lifting and materials handling business, and the Hewden brand name.

Reports suggest that 133 Hewden employees will transfer to A-Plant and that another 251 have been made redundant, with approximately 350 retained as the administrators seek buyers for the rest of the company.

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.”

Hewden made a pre-tax loss of £16.6m last year on turnover of £106m. The previous year it lost £13m. In October it said that a construction slowdown following the Brexit referendum had adversely affected a number of large construction projects.

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