04.09.2015

Coates completes Force acquisition

In Australia Coates Hire has completed the acquisition of the Force Corp assets and will merge them into its own operation.

A statement from the company, which is owned by private equity firms Seven Group and Carlyle, says that has only acquired the access and truck assets -a total of around 3,700 pieces of equipment and not the goodwill - and is paying market valuation for them. In addition it will take on around 100 of Force’s 250 or so employees and “collapse the 13 Force depots into the Coates Hire operations over time”.

Coates chief executive Michael Byrne said: Access equipment is high in demand by our customers and this move gives Coates Hire a winning edge, ensuring that we are the biggest equipment provider in this market. This will ensure that we are set up for success and able to continue to invest to meet our customer’s requirements going forward”
See Coates set to take Force