Platform hire and lift business on the up

HB Platform Hire's inventory includes $1.9m of plant and equipment. Photo / Supplied

A profitable Hastings machinery equipment hire business, specialising in mobile platform and height-access equipment rentals, is on the market.

Bayleys Napier is marketing HB Platform Hire via an expressions of interest campaign closing at 2pm on February 22.

The business includes $1.9m of modern plant and equipment; a substantial database of commercial clients throughout greater Hawke's Bay; a well-trained administrative and operations staff; and all back-office IT collateral and computer systems.

Bayleys' Rodger Howie says the vendors will also consider offers to purchase its two freehold properties.

"However, they will only consider offers to purchase the land and buildings in conjunction with the business."

Howie says the business has an impressive record of revenue surpluses, with the net profit having grown by 39.8 per cent over the last two full financial years.

The locally-owned company's range of machinery includes both diesel and battery-powered platform hoists.

Height access equipment includes rough terrain four-wheel drive scissor lifts ranging in reach from 8m to 12m; battery-powered scissor lifts ranging in reach from 6m to 12m and self-propelled Z-booms capable of reaching heights of between 12m and 18m.

HB Platform Hire operates from two Hastings premises:

• A 2259sq m yard at 304 Jervois St has 330sq m of equipment storage warehousing and adjacent administration offices.
• The 1089sq m site at 207 Hastings St North, has 170sq m of equipment storage warehousing and an adjacent workshop.

The business employs four full time staff: an office manager, a qualified service technician and two operational personnel responsible for the delivery and collection of equipment and day-to-day machinery maintenance.

Three of these staff members have been with the company since it began trading.

Sales have increased by 50 per cent over the past three full years of trading — clocking in at $1.2m on the year to March 31, 2018, says Howie.

"The business has a diverse customer base in the commercial construction sector, ranging from electricians, engineers, construction and maintenance industries, through to cool store, warehousing and manufacturing, decorators and fruit growers."

As a safety-focused business, operators of HB Platform Hire maintain current elevated work platform (EWP) certification.

Having benefited from the region's commercial and industrial building boom over the previous five-to-six years, the business has invested heavily in updated plant and machinery to meet the growing demand.

"To grow revenues to a new level, a new owner could look at expanding the equipment hire range to include the likes of scaffolding, power generation, earth-moving and digging machinery, or trailer hire for example."

Howie says sales have increased by 50 per cent over the past three full years of trading – clocking in at $1.2m in the year to March 31, 2018.

"This business trades lean — there are no flashy showrooms or company vehicles, keeping overheads to a minimum.

"This allows the firm to charge out its equipment and machine hire at extremely competitive rates."