Having finally decided to sell my company I chose The Hire Exchange because of their depth of knowledge within the Hire industry. Although a good deal of time was spent on compiling the Information Memorandum the result was a significant amount of interest and a number of NDA’S which materialised into firm offers.
As it turned out, the selected buyer did not come initially from Hire Exchange but with the competitive tension already created by the other offers we were able to achieve an exceptional sale value in excess of my original target figure.
At all times Chris and David were extremely professional and always on hand to help navigate the way through the sale process and I cannot thank them enough for securing such an excellent outcome.
Ermin Plant (Hire and Sales) Ltd
Selling a business is not easy so making sure you have the right team to assist is paramount. We found that team in Chris & David at The Hire Exchange, Amy Grosvenor of Hill Dickinson and Philip Lamb of Allen Sykes Chartered Accountants.
As first-time sellers, we needed the whole sale process explained from the beginning and David & Chris did this as well as stressing the importance of producing a comprehensive Information Memorandum. This is not easy but is totally worth it.
Chris and David also vetted all buyers ensuring suitability and a good ‘fit’ and in the Border Group we found that. They were also always on hand to give advice when things didn’t go as planned and to keep the entire process going.
Our solicitor, Amy Grosvenor of Hill Dickinson, was fantastic and worked incredibly hard to ensure the legal work progressed at speed but without compromising service and without her we would not have completed as quickly as we did.
We are happy to recommend The Hire Exchange and all members of the team.
We are writing too highly recommend The Hire Exchange.
This recommendation is not only for companies who are sure they want to sell and understand the process but more importantly, for those companies like us who we’re thinking of selling, but needed the process explained in layman’s terms.
We received great advice on whether it was the right time to sell– to fleet size to the basics of money in the bank and levels of borrowing.
During the process, all potential buyers were vetted for suitability and ability to purchase before being introduced to us, although we were made aware of anybody that expressed an interest.
David and Chris bring to the table their in-depth industry knowledge and experience which is invaluable throughout the entire process. If you ask a question you WILL get an honest and straightforward answer – you won’t be told what you want to hear, which is so important when making one of the most important decisions for your company and for yourself personally.
If we had to go through this again, we would definitely use The Hire Exchange.
Liftright Access Limited
A substantial part of my time is spent looking for potential businesses to add to AER Rents. The starting point is always quickly understanding the potential opportunity presented, and here the IM is key. A well-written IM puts the facts and key data in front of you immediately so you can determine whether to pursue further. The Hire Exchange were very strong here – not only presenting a thorough IM from the get-go, but they were keen to understand if further information would be needed to keep the process on track.
I firmly believe that many acquisitions fail because the buyer hasn’t properly considered cultural/team fit – here Chris and David were very keen to learn about AER Rents strategy, values and expectations and then demonstrate their alignment with those of Welfare 4 Hire. This has helped to make our acquisition of Welfare 4 Hire very straightforward and allowed us to immediately focus on creating value for both organisations.
Finally, communication is so important. The Hire Exchange were very good at bridging the gap between a larger business with a highly-prescriptive due diligence process, and an entrepreneurial start-up with evolving systems and processes. Chris was very often the glue that held it all together!
AER Rents are very happy to have Welfare 4 Hire as part of our group, and we wouldn’t hesitate to use The Hire Exchange again in the future.
C.E.O Plant Hire : AER Rents Ltd
The Hire Exchange did a great job for us particularly in getting GT Access involved. There is no doubt that finding the buyer who really wants the business is the key.
To be honest selling is quite a stressful process and a real knowledge of how a hire business works is essential, especially during negotiations and handling due diligence, but it’s well worth the pain for sure.
Neon Hire Services
In the beginning I was in two minds as whether to sell or not because the business was doing very well and the market was recovering from the initial Covid issues but once we got going and offers started to come I got more confident.
We ended up with three offers and one that presented a great personal opportunity for me. While selling is hard work, The Hire Exchange make it as straight-forward as it can be and we are all very happy with the outcome. The Hire Exchange know what they are doing and are good guys to work with.
Surrey Hire and Sale
We appointed The Hire Exchange because they understood the market and seemed to have great contacts, which proved to be true because we had lots of interest and got four very good offers.
Chris and David are a great team and between them they helped and supported us through out what was sometimes a testing process. They kept everyone sane and on track, even when things got tricky. It worked out very well in the end and I would happily recommend them.
I have bought many businesses in my time and it is never easy. Finding the right opportunities in the first place and assessing the proposition can be time consuming and hard work, quite apart from doing the deal and completing.
The Hire Exchange made this process considerably easier because unlike many brokers, they really do understand the hire business, the issues and what a buyer needs. As with most deals, the process is always challenging and good communication and ‘people’ management is essential. In this respect they successfully navigated the ‘bumps in the road’ and kept the deal on track to the satisfaction of both buyer and seller. A great result.
CEO GT Access
It took me quite a while to decide to sell my business and I was very grateful to the Hire Exchange for their patience. When I did decide to sell, David and Chris explained the process in great detail and worked hard on valuation and producing the IM, which is worth the effort because we had a several interested buyers from the start.
They promised to find me the right buyer that shared my values and in the FTH Group they achieved that. I liked The Hire Exchange’s approach so much I now actually work for them as a business researcher, says it all really!!
Kelsey Plant Hire