£5m funding aids Lancashire firm’s expansion plans

NEW AREAS: Thomas Smith, Andy Nurse of Yorkshire Bank and David Smith
NEW AREAS: Thomas Smith, Andy Nurse of Yorkshire Bank and David Smith
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The largest independent plant and tool hire company in the North West is expanding into new areas and aiming for further multi-million-pound growth.

Lancashire-based Smiths Equipment Hire – a family business established 43 years ago – is jointly managed by brothers David and Thomas Smith.

The business, which had a forecasted turnover of £8.5m this year, has recently undergone a major rebranding exercise.

It currently has 10 Hire It centres across the region, employing more than 100 staff.

In the last year, Yorkshire Bank has increased its funding to the company to £5.2m to support the growth of the ambitious hire business.

This includes a significant investment of more than £2m in new access, plant and delivery fleet, a complete rebranding of its Preston depot, and the acquisition of a second outlet in Blackpool, which now acts as the company’s head office and training base.

As well as servicing major construction companies, Smiths also works with smaller contractors and hires to the DIY market.

The Hire It depots are regionally located to serve local need with two facilities in Blackpool as well as centres in Cleveleys, Preston, Blackburn, Kirkham, Lytham St Annes, Bolton, Manchester and Warrington.

David Smith, managing director at Smiths Equipment Hire, said: “In the last six months we’ve been working hard to modernise our branding to reposition ourselves in the market.

“As well as the creation of new livery and the purchase of new equipment, we will also be refurbishing all Hire It centre in the coming years to give them more kerb appeal.

Andy Nurse, relationship manager at Yorkshire Bank’s Business and Private Banking Centre in Preston, said: “I’ve been working with David and Thomas at Smiths Equipment Hire for 15 years and in that time I’ve seen the business go through a remarkable transformation.

“The business has been through a consolidation period and is now targeting areas of growth, including further acquisitions of Hire It centres in the area.”