The managers and investors in UK rental companies Pulse Hire and Peak Platforms - Luke Bowers, Luke Jones, Tom Brook, and James Kynaston have taken a controlling interest in Stafford based Ultimate Access Hire.
Ultimate’s current owners and directors are Rob Atkins, who is planning to return to a full time focus on his construction and property development, and Amarpal ‘Amo’ Gill who will continue to manage and retain a substantial stake in the company.
Ultimate Access was incorporated in mid-2019 by Atkins, a construction and property entrepreneur and Gill who has a background in retail with major companies such as Argos, B&Q and Tesco. The company has grown rapidly since 2021 and as of mid-2023 had assets of around £3.2 million, but as is often the case with rapidly growing capital intensive businesses it has struggled with cash flow.
Ultimate is based in Stafford and services the greater Birmingham area
Speaking of the move Luke Bowers said: "This partnership with Ultimate Access is a natural progression for us. With a history of growth and success, we are excited to bring our experience to the table to further enhance Ultimate Access's offerings."
Tom Brook added: "This investment represents a shared vision for growth and excellence. We are confident in Ultimate Access's potential and look forward to what we can achieve together."
A statement from the investors added: “The history of Peak Platforms provides a backdrop to this collaboration, where Luke and Kayleigh Bowers, along with the Pulse Hire owners, grew the business to revenues of more than £4 million pounds in the first year of trading. Meanwhile, Pulse Hire achieved £16.2 million in its most recent financial year, its fourth so far.
When the deal is completed Pulse Hire which is based in Ossett, near Wakefield, Yorkshire, and Peak Platforms based in Dukinfield on the east side of Manchester, will collectively hold an 80 percent stake in Ultimate Access, which will maintain its independence and operating model, while working in concert with the four investors.
Speaking of the sale Rob Atkins said: "Ultimate Access holds a special place in my heart, and it has been an honour to contribute to its growth. As I transition to concentrate on working in the construction industry, I am confident that the company and Amo is in excellent hands with Luke, Luke, Tom, and James supporting its future."
Vertikal Comment
This looks like an interesting move, both Peak and Pulse are in reasonably good financial shape and this move gives them a third location further south, also near a major conurbation, while helping Ultimate take the next step in its development.
The four investors have a strong background in the access rental industry, with Jones, Brook, and Kynaston having served time with Horizon Platforms – one of the best independent companies in the business, while Bowers helped Aspire achieve rapid growth, having previoiusly worked with HSS, Brandon and Ardent Hire.
Comments