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Hirepool Scores 10 New Branches In First 10 Months

HIREPOOL LIMITED
P O Box 12048, Penrose
Auckland

Hirepool Scores 10 New Branches In First 10 Months

Equipment rental leader expands into key markets with
its two latest acquisitions and unveils a new look.

Auckland – 04 June 2004: Equipment rental leader, Hirepool Limited, this week continued its expansion into key markets with the purchase of two more businesses in Auckland and Dunedin.

The dual acquisition of PORT-A-LOO (Auckland) and Hire Master (Dunedin) continues the nationwide expansion objective put in place by managing director, Tenby Powell, when he took over the business in July last year. In the intervening 10 months, Hirepool has added 10 new branches in key locations across New Zealand - four by acquisition and a further six ‘greenfield’ developments.

PORT-A-LOO, has established a niche market as portable sanitation specialists while Hire Master is a highly respected equipment rental business servicing the Dunedin and wider Otago community.

Mr Powell, the former CEO of Projex Limited, was part of a consortium that bought Hirepool from Owens Group for $46.6 million at the end of May 2003. JB Were (NZ) Limited took a 51% stake through its private Equity No.1 Fund, with Powell, through Hunter Powell Investments and Owens Group each holding 24.5%.

At the time he made it clear his vision was to make Hirepool New Zealand’s recognised market leader in equipment rental and related services.

“We are very pleased with progress of what is still phase one of our roll-out plan,” Mr Powell says. “We will be very selective in the way we implement further expansion plans, placing special focus on our major markets. And we will do it by having quality systems, processes and equipment backed up by experienced people who can deliver the solutions the commercial and DIY market are seeking.”

Hirepool has moved with agility and pace, particularly in the last six months. The purchase of Taranaki Hire (New Plymouth) and Hire King (Auckland) was completed by January 2004 while additional Hirepool branches have also opened in Mount Maunganui, Hamilton and Hastings. On top of the two latest acquisitions, Mr Powell confirmed that sites have been secured for new branches in Tauranga, Palmerston North and Christchurch.

Under-pinning this strong growth has been the enhancement of the company’s corporate identity featuring a fresh logo and new livery.

Mr Powell says the brand enhancement “is a strategic step to create a clear visual point of difference for customers between Hirepool and our competitors as we continue to build our brand nationwide. The new livery reflects Hirepool as a service orientated, professional organisation while openly displaying the vibrancy, friendliness and agility of our culture.”

Mr Powell says a key component of this is Hirepool’s new value proposition ‘hire the experience’, designed to “capture the professionalism, experience and customer focused attitude we strive for to meet the needs of both trade and DIY customers. If anything, the new website, www.hirepool.co.nz, says it all.”

ENDS

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