Jon Richmond and Ian Rampling, of Cox Hire Ltd, based in Netherton, West Midlands,have announced that they have partnered with Gavin Lawrence of Hire It in the acquisition of DIY Hire (Kidderminster) Ltd - in yet another all-share purchase brokered by The Hire Exchange.

DIY Hire  was founded in 1980 by John Davies and his wife Fiona. Together with depot manager and minority shareholder Gavin Lawrence who remains with the business, they built Hire It into to a successful and much respected tool and equipment hire company.

Speaking of the acquisition, Cox Hire MD Jon Richmond said: “Hire It is a great business and is both a supplier to us and local competitor and in that respect is totally compatible with our business. We know the people and have long admired the way they work and how they serve their 3000 customers.”

While Hire It will become part of Cox Hire Holdings Limited, it will trade independently under the existing Hire It brand, and it will still be led by Gavin Lawrence - there will be no other changes to the way it works. The acquisition creates a synergy between the two companies and extends the product and service offerings of them both, while significantly increasing their scale and reach.

“John and Fiona have done brilliant job in building this business over many years and we congratulate them on their achievements and their retirement. Our thanks to all parties in this successful deal,” added Chris Harvey, co-founder of The Hire Exchange.

www.thehireexchange.co.uk