Euro Tool Hire and Sales has been sold to a leading southern tool hire business, in a deal overseen by KBS Corporate Deal Executive Adam Nelson,
With three depots, in Redruth, St Austell and Helston, Euro Tool has been operating in regional plant and equipment hire for almost 30 years. Euro Tool Hire MD Craig Williams instructed KBS Corporate on the sale of the business, as he was ready to explore new opportunities.
Adam Nelson said: “Euro Tool benefits from long-standing customer relationships and good market access via three depots across Cornwall. “Craig had led Euro Tool for nearly 30 years and I was delighted to assist him in finding the right buyer that can take the business forward while he enjoys the next chapter of his life.”
Adam was supported by Sara Fletcher, senior corporate document writer, and Drixie Espiritu, research analyst, who advised: “Euro Tool was in a strong market position and generating a steady flow of revenue. Naturally, we wanted to highlight its prominent location and industry reputation, showcasing the company’s potential for expansion across South West England.”
While there was interest from a number of trade buyers and investors, Alliance Tool Hire submitted the successful bid and demonstrated a long-term vision for Euro Tool. Alliance Tool Hire is pursuing growth across Southern England and Euro Tool will join the business's eight branches, which includes those in London, Salisbury and Poole.
An Alliance Tool Hire South West spokesperson confirmed the three Euro Tool branches had joined their existing Cornwall operations in Truro and Penzance.
“We believe this will enable us to look after our customers brilliantly everywhere in Cornwall,” they said.
“The combined hire fleets have over £3m of equipment, enabling us to service almost all the tool and plant needs of our customers in Cornwall. Euro’s equipment fleet includes significant plant equipment from mini-diggers to larger diggers and dumpers, ensuring customers at all five branches can get what they need from us.”