HSS Hire Group acquires heating and air conditioning company for £11.4m

11th May 2015 13:50

HSS Hire, a tool and equipment-hire company, has acquired the heating, ventilation and air-conditioning (HVC) hire group All Seasons for £11.4m.The group said it will pay the full amount in cash, funded from its credit facility. The acquisition is expected to generate earnings for the current financial year.HSS Hire Chief executive Chris Davies said All Seasons' product range is "highly complementary to our existing smaller-scale heating and air conditioning rental business and is a strong addition to our specialist division".Davies added: "Large-scale temporary heating and cooling capabilities are particularly valuable for facilities management clients and this acquisition strengthens our position as a one of the major HVAC rental companies in the UK."HSS Hire started floating in the London Stock Exchange this February. During its full-year results for 2014, the company reported robust volume growth in both its core and specialist divisions, with growth significantly up in its tool and equipment hire market.Shares in HSS were up 0.64% to 195.25p on Monday at 13:45.