29 March 2010

Speedy Hire ("Speedy")

Award of Major 5 Year Contract

Speedy Hire ("Speedy"), the UK's leading provider of equipment rental and support services, is pleased to announce that it has entered into a new 5 year Strategic Supply Agreement with Connaught plc ("Connaught"), the UK's leading integrated services provider, operating in the social housing, environmental, public sector and compliance markets. The agreement will run until 2015 and is estimated to be worth in excess of £20 million over the term.

Under the terms of the Agreement Speedy will be Connaught's exclusive provider of tools and equipment hire across the UK, operate a single dedicated hire desk and acquire, under an outsourcing arrangement, a range of equipment currently operated by Connaught in house to a maximum value of £1 million. 

The agreement builds on a contractualrelationship established in 2008, since when Speedy has become a key strategic partner to Connaught. 

Steve Corcoran, Chief Executive of Speedy, commented: "We are delighted to be able to announce the latest in a string of long term contract extensions with a client with visible workflows and strong growth prospects.  Clients such as Connaught continue to see the benefit and value of our network and service offering, our fleet investment, our award winning safety and environmental support programmes and our industry leading IT infrastructure."

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NOTES TO EDITORS

Founded in 1977, Speedy is the leading provider of equipment rental and support services to a wide range of clients across the construction, infrastructure, industrial, manufacturing and facilities management sectors - as well as to local trades and industry.

Operating from over 350 fixed sites - together with a number of on-site facilities at client locations throughout the UK, Ireland and the Middle East - the company supplies a range of services including:

·     the hire of small tools and equipment

·     surveying and measurement instrumentation

·     lifting and materials handling equipment

·     powered and non-powered access equipment

·     temporary accommodation

·     compressed air

·     temporary power generation

·     mechanical pumps

·     temporary site communications

The Group also provides associated services through the provision of training, asset management and testing, repair, inspection and maintenance (TRIM), as well as offering advisory services in areas such as health and safety, environmental and regulatory compliance.

Website:  www.speedyhire.plc.uk