U.K. rental company Speedy Hire acquired Lloyd’s British Testing, a 200-year-old U.K. company based in the Birmingham, U.K., area. Lloyd’s, a specialist in testing, certification and inspection of lifting equipment as well as training throughout the U.K., had been in administration since November after it struggled with a decline in overseas markets and oil-and-gas price volatility.
“The acquisition gives us the ability to provide enhanced training, testing and lifting services to our customers, and realize synergies with our existing lifting business,” said Russell Down, chief executive of Speedy Hire.
Speedy Hire said about 200 Lloyd’s employees will join Speedy, from a network of 12 Lloyd’s offices.
Speedy Hire, which has more than 300 locations, is based in Newton-le-Willows, Merseyside, U.K.