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The new private equity owners of Hirepool have continued to invest in the business, buying two smaller hire companies.
The purchase of Gisborne Hire and Auckland-based Barricading Solutions for an undisclosed price was part of the $40 million in capital expenditure the new owners had committed to the firm, said chief executive Tenby Powell.
Australian private equity firm Next Capital bought Hirepool last July for $172 million with co-investor Hunter Powell Investments, a firm owned by Powell and wife Sharon Hunter. Powell said the latest purchases would strengthen its foothold in the industrial sector.
In January Hirepool bought the established truck and commercial vehicle rental business Henderson Rentals.
Powell said the recent buys "continue Hirepool's focus on creating a national footprint while identifying growth opportunities in specialist areas, as is the case with Barricading Solutions", which specialises in high-speed concrete crash delineators, pedestrian barriers and fencing.
