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January 30, 2018

Ardent plans for growth

Filed under: Latest News — EHN Team @ 12:49 pm

Ardent Hire Solutions has secured a £120m asset-based lending facility from HSBC and ABN AMRO banks to facilitate its expansion.

The business was formed in August 2015 by investor groups Duke Street and Searchlight Capital, following the acquisitions of Fork Rent Ltd and One Call Ltd. It currently employs just fewer than 300 people across 13 sites.

In 2017, Ardent Hire placed significant orders with JCB for telescopic handlers, and with Hitachi for excavators, and states it plans further purchases in 2018 “overshadowing last year’s investment”.

CFO Julian O’Neill, said, “Ardent Hire has enjoyed significant growth since its inception and we are very excited to work with HSBC and ABN AMRO as we look to expand the business even further. The new facility will give Ardent the financial capacity it needs to fuel our high levels of customer demand and market growth.”

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