RERMAG

British Aerial Rental Company Lavendon Acquires Wizard and Rise

Lavendon Group, the United Kingdom’s leading aerial equipment specialist, made two recent major acquisitions of aerial rental companies. Last week the fast-growing firm acquired Norwich, England-based Wizard Workspace, which has 10 branches and a fleet of 1,300 aerial units, agreeing to pay about £2.15 million (about U.S. $4.25 million) for the company.

Wizard made a pre-tax profit of £600,000 (about U.S. $1.2 million) on volume of about £8.8 million. Lavendon said it planned no immediate changes to Wizard’s staff or operations.

Recently, Lavendon acquired Rise Hire Ltd, which specializes in the rental and contract lease of van-mounted powered access platforms and forklift trucks. Rise is a market leader in the van-mounted access market.

“Rise Hire has an excellent service reputation and operates in a market segment where our U.K. business is under-represented and where operational disciplines are different,” said Lavendon chief executive Kevin Appleton. “We intend for Rise Hire to be the foundation for further investment to develop a market-leading position in this sector.”

Lavendon, based in Lutterworth, Leicestershire, England, has a market capitalization of £260 million (about U.S. $514 million) and is believed to be the leading aerial rental player in Europe.

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