Editorial Team
Editor
Murray Pollok
e-mail:
Tel: +44 (0)1505 850 043
Staff Writers
Lindsey Anderson,
Alex Dahm, Lindsay Gale,
Sandy Guthrie, Laura
Hatton, Cristián Peters,
D.Ann Shiffler, Helen
Wright, Euan Youdale
Editorial Director
Paul Marsden
Production Team
Production and
Circulation Director
Saara Rootes
e-mail:
Production Manager
Ross Dickson
e-mail:
Tel: +44 (0)1892 786245
Design Manager
Jeff Gilbert
Designer
Gary Brinklow
Production/Design Assistant
Pippa Smith
e-mail:
Tel: +44 (0)1892 786207
Production Assistant
Louise Kingsnorth
e-mail:
Tel: +44 (0)1892 786246
Sales Team
Advertisement Manager
Lynn Collett
e-mail:
Tel: +44 (0)1892 7862219
Fax: +44 (0)1892 786258
Products & Services
Directory Sales
Paul Watson
e-mail:
Tel: +44 (0)1892 786204
Fax: +44 (0)1892 786258
Finance Team
Financial Controller
Paul Baker
Tel: +44 (0)1892 784088
Financial Assistant
Gillian Martin
e-mail:
Tel: +44 (0)1892 786248
Credit Control
Josephine Day
e-mail:
Tel: +44 (0)1892 786250
Circulation Team
Circulation Executive
Hayley Gent
Tel: +44 (0) 1892 786233
Office Manager
Clare Grant
Business Development Director
Peter Watkinson
Publisher
James King
commen
t
January 2014
Volume 14 Issue 1
T
he end of 2013 was a lively one in terms of rental news, and in some cases for
the wrong reasons. Speedy Hire, for example, announced that it had uncovered
accounting irregularities at its Middle East operation, prompting long-standing CEO
Steve Corcoran to resign.
It will be a horrible way for Mr Corcoran’s career at Speedy to end particularly because he
is not implicated personally in any wrongdoing and because the company was starting to see
light at the end of a long recessionary tunnel.
On a positive note, one of the major ongoing projects at Speedy is a reorganisation of its
UK network, streamlining it down in size, with seven massive Multi Service Centres serving
smaller Superstores and Express stores. In this issue we report on the new strategy and look
at one of the new Multi Service Centres.
Elsewhere this month consultant Jeff Eisenberg takes a look at private equity involvement
in the rental sector, which is timely because the industry has seen several high profile deals
in recent months involving private equity groups, most notably Platinum Equity acquiring
Volvo Rents – a deal which is costing Platinum around €800 million.
Private equity may be returning to the rental sector, but as Jeff points out, not on the same
terms as during the boom years, when prices were predicated on an assumption of continued
growth. Such growth, at least in Europe, can no longer be taken for granted.
There were also signs of renewed acquisition activity in Europe at the end of the year, with
Kiloutou acquiring Most Location in France and Loxam buying Dansk Lift, giving it rental
operations in Norway and Sweden for the first time as well as boosting its existing operation
in Denmark.
Also this month we interview Lois Boyd, president of Hertz Equipment Rental Corp (HERC),
and ask her about her priorities for a business that is busy growing in North America and at
the same time establishing new rental operations in China and the Middle East.
Of course, HERC also has activities in France and Spain. Ms Boyd says she is pleased with
the way these are now developing after a difficult period, and says there may be more news
to follow this year or next. We are holding the front page.
Finally, a reminder to all readers that the deadline to submit entries for this year's European
Rental Awards is Friday 21 February. If you launched an innovative new product last year, or
saw your rental business perform exceptionally well, then do not wait for someone else to
nominate you - submit your entry now! (See
)
Murray Pollok
Editor,
International Rental News
Correspondence or comments should be sent to:
The Editor,
IRN
, Southfields, Southview Road, Wadhurst, East Sussex, TN5 6TP, UK.
Tel: +44 (0)1892 784088
Fax: +44 (0)1892 786257
e-mail:
The paper in this magazine originates from timber that is sourced from sustainable forests, managed
to strict environmental, social, and economic standards. The manufacturing mill has both FSC & PEFC
certification, and also ISO9001 and ISO14001 accreditation.
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A KHL SPECIAL REPORT
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