Private equity firm Livingbridge has invested in Nationwide Hire, an aggregator of equipment rental and hire services.
Nationwide Hire provides major plant and machinery, equipment, tools and specialist services to companies operating across a wide range of sectors including construction, facilities management, retail, events, waste management and crisis support.
The business was founded in 1995 and manages a network of over 4,000 suppliers based in the UK and Ireland, offering access to more than five million products. It is headquartered in Hampshire and has over 70 staff and a turnover of £16 million.
The investment will be used to help Nationwide Hire develop an online customer acquisition engine and technology platform, and builds on Livingbridge’s experience of aggregators in the rental space, having exited Nexus Vehicle Rental in 2015.
James Titmuss, Director at Livingbridge, said: “We are excited by the prospect of working closely with Jonathan Holley and the management team and using our knowledge of the rental sector to help Nationwide Hire enter a new phase of growth. With a large addressable market, scalable business model and history of strong revenue growth, we look forward to helping the company to fulfil its potential.”
Jonathan Holley, CEO at Nationwide Hire, added: “Livingbridge is a partner that comes with a significant and longstanding reputation in helping UK businesses to grow. I am convinced that with their support and substantial experience in customer acquisition and technology we can successfully achieve our goals and develop the company further.”