Hirepool Celebrates 60th Anniversary
Hirepool Celebrates 60th Anniversary by Announcing Further Expansion Plans
AUCKLAND, 20 November 2015: New Zealand equipment hire specialist, Hirepool, is continuing to grow after 60 years in business with a number of strategic plans underway, including opening new branches and investing in its core fleet.
Hirepool chief executive Brian Stephen says sales in the first 3 months of the new financial year have increased with EBITDA earnings up approximately 10%. Demand remains strong in most of the company’s trading sectors, with infrastructure leading the way.
Continuously evolving, New Zealand’s largest general hire equipment company is in the process of establishing a dedicated “power and lighting” branch in Auckland. The branch will strengthen Hirepool’s offering in this market and provide clients with specialist technical and sales expertise.
“We’re always looking at viable growth options so we can better service our customers. We will be opening a few more stores where we have the opportunity to fill service delivery gaps and to fleet up in products where demand is strong,” he says.
Hirepool is celebrating its 60th birthday this month, having first opened in Auckland in 1955. What began as a partnership between Peter Brookfield and Eric Jarvie culminated in a merger with their largest competitor, Hirequip, in 2013. The company now employs around 600 fulltime staff nationwide and has approximately $350m worth of equipment.
Hirepool is the market leader with a share across a range of end users including trade customers in the civil and construction sectors and a “strong, loyal group” of Kiwi DIYers.
“We are currently supplying fleet to a lot of major infrastructure projects such as the Waterview Tunnel, Northwestern motorway builds, and Transmission Gully in Wellington,” Stephen says. “In addition, we have a lot of fleet on Christchurch rebuild sites, including the city’s hospitals, university and the Western Bypass work.”
The business spent much of 2015 continuing to integrate the management and operations of two very substantial hire businesses. In 2016 they are investing close to $30m in new fleet and technology initiatives.
“This is resulting in better systems, a modernised fleet and ability to meet the changing needs of our customers. The first quarter of the 2016 financial year reflects this, delivering a positive first 3 months” Stephen says.
He believes Hirepool’s strong focus on developing staff and providing customers with the highest level of service has underpinned the company’s success over the past 60 years.
Stephen says Hirepool is now concentrating on new growth opportunities and consolidating market share. “Sixty years is a long time to be in business but many exciting opportunities still lie ahead.
“My vision for Hirepool is to be the safest, most innovative and leading equipment hire company in New Zealand. We want to achieve this by providing great customer service, a quality fleet, continuing to develop the capability of our people and build our reputation as a great employer.”