Thursday, June 9, 2011

Ryder Europe Buys Hill Hire for 154 Million Pounds

Substantial Increase to Hire Fleet and Facilities
Shipping News Feature

UK – Freight fleet hire specialists Ryder Europe have taken over Bradford-based rival Hill Hire, purchasing 100% of the equity in the company from previous owners Lloyds Banking Group for £154 million.

Hill Hire’s assets will make a substantial addition to Ryder Europe’s own, which stands to add thirteen sales and service facilities throughout the UK providing contract hire, commercial vehicle rental and maintenance services, as well as around four thousand HGV’s and a large trailer fleet for rental or contract hire, as well as 300 staff.

The acquisition is the latest purchase for Ryder Europe, which this year celebrates its 40th anniversary in the UK. Over the last two years, Ryder has invested over £44 million into its rental fleet with the company now operating from 23 locations throughout the UK with a fleet that numbers over 10,000 trucks with Hill Hire’s added to the total.

The purchase is particularly significant as most of the newly acquired fleet will be made of tractor units, complementing Ryder’s existing motor pool of largely rigid chassis vehicles and further strengthening Ryder’s position in the U.K. truck rental market.

David Hunt, Vice President and Managing Director Ryder Europe, said: “Hill Hire is a well respected and successful business. The completion of this acquisition supports our continuing growth strategy cementing Ryder’s position as one of the UK’s leading independent HGV truck rental and contract hire providers.

“The transition to operating as one UK business now begins. Throughout this process, we will be focussed on achieving the optimum business structure that best serves our customers. With that in mind, the goal of the initial integration process will be working closely with customers and suppliers to help ensure that high service levels continue without disruption.”