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H1 2015 results announcement

H1 2015 results announcement

Hero Acquisitions Limited (“Hero Acquisitions” or “the Group”) will announce its financial results for the 26 week period ended 27 June 2015 on Wednesday, 26 August 2015.

H1 2015 results announcement

H1 2015 results announcement

Hero Acquisitions Limited (“Hero Acquisitions” or “the Group”) will announce its financial results for the 26 week period ended 27 June 2015 on Wednesday 26 August 2015.

Results of Annual General Meeting

Results of Annual General Meeting

At the AGM of HSS Hire Group plc held today at 2.30 pm at Haberdashers’ Hall, 18 West Smithfield, London EC1A 9HA, all resolutions set out in the Notice of Meeting, with the exception of resolution 6 which was withdrawn, were voted on a poll and were passed by the requisite majorities.

Report of the Year 2014 and Notice of Annual General Meeting

Report of the Year 2014 and Notice of Annual General Meeting

HSS Hire Group plc announces that it has today published its Report of the Year 2014 and accompanying Corporate Responsibility Report.

The Company also announces that its Annual General Meeting will be held at 2.30pm on 16 June 2015 at Haberdashers’ Hall, 18 West Smithfield, London EC1A 9HQ.

HSS Acquisition of All Seasons Hire Ltd

Acquisition of All Seasons Hire Ltd

HSS, the tool and equipment-hire company, announces that it has acquired All Seasons Hire Ltd (“All Seasons”), one of the leading heating, ventilation and air-conditioning (“HVAC”) hire companies in the UK, for a total cash consideration of £11.4m.

HSS Hire FY 2014 Results

Audited Results for Hampshire Topco Limited for the year ended 27 December 2014

HSS Hire Group plc (“HSS” or the “Group”) today announces results for the year ended 27 December 2014 for Hampshire Topco Limited, the holding company of the Group prior to the listing of new parent company HSS Hire Group plc on the London Stock Exchange in February 2015.

FY 2014 Results Announcement

FY 2014 Results Announcement

Hero Acquisitions Limited (“Hero Acquisitions” or “the Group”) will announce its Full-Year financial results for the Year ended 27 December 2014 on Monday, 20 April 2015.

Notice of Results

Notice of Results

HSS Hire Group plc will announce its full year results for the year ended 27 December 2014 for Hampshire Topco Limited, the holding company of the Group prior to its listing on the London Stock Exchange in February 2015, on Monday 20 April 2015.

Paul Quested (Chief Financial
Officer)

Paul Quested (Chief Financial Officer)

Paul Quested joined the Group as Chief Financial Officer in August 2016. Before joining the Group, Paul was Chief Corporate Development Officer for Electrocomponents plc and had held a number of senior positions within Electrocomponents, including those of Global Strategy Director, General Manager (RS UK) and Head of Finance (RS UK).

Prior to Electrocomponents, Paul worked at InBev for ten years, where his roles included Planning & Performance Management Director.

Before InBev, Paul worked at Coopers & Lybrand where he was an Audit Manager for FTSE 100 clients.

 

 

Completion of Partial Redemption – 13th Feb

For immediate release

13 February 2015

HSS hire logo

HSS Financing plc

Completion of Partial Redemption of 6.75% Senior Secured Notes due 2019

HSS Financing plc (the “Company”) today announces the completion of the previously announced partial redemption of its 6.75% Senior Secured Notes due 2019 (the “Notes”). Pursuant to the previously issued redemption notice, the Company on 12 February 2015 (the “Redemption Date”) redeemed £64.0 million of its outstanding Notes at a redemption price of 106.750% of the principal amount being redeemed (being £68.32 million in total), plus £132,000 in accrued and unpaid interest to the Redemption Date. As a result of the partial redemption, £136.0 million remains outstanding under the Notes, representing 68% of the original aggregate principal amount of the Notes.

On 9 February 2015 the ordinary shares of HSS Hire Group plc, a parent company of the Company, were admitted to the premium listing segment of the Official List of the UK Financial Conduct
Authority and to trading on the main market for listed securities of the London Stock Exchange plc.

ENQUIRIES

HSS Hire Group plc + 44 (0) 208 897 8566
Chris Davies, Chief Executive Officer
Steve Trowbridge, Chief Financial Officer

HSS Admission Announcement – 4th Feb

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HSS Hire Group plc

Admission to trading on the London Stock Exchange
Further to the publication of the Pricing Statement on 4 February 2015, HSS Hire Group plc (the “Company”) is pleased to announce in connection with its initial public offering (the “Offer”) that its ordinary share capital of 154,761,904 ordinary shares (the “Shares”) has today been admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on London Stock Exchange’s main market for listed securities under the ticker “HSS”. The Company is a parent company of HSS Financing plc.

Who is the company Registrar?

Equiniti are our registrars.  They maintain the Company’s register of direct shareholders (names and addresses of shareholders and the number of shares held), as well as issuing dividend payments on behalf of the Company to such shareholders.  For those shareholders who own their shares in a broker’s nominee account, the broker will issue the dividend.

How can I contact the Company Registrar?

The Company Registrar, Equiniti, can be contacted on:

UK callers: 0371 384 2030
International callers: +44 121 415 7047

Lines are open between 8:30am and 5:30pm Monday to Friday. Alternatively, you can contact Equiniti by writing to the address below:

Equiniti
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

What is the best way to manage my shares?

By signing up for a Shareview account via the website of our Registrar, Equiniti, you will be able to manage your shares securely online. A Shareview account will enable you to:

  • view information regarding your shareholding;
  • change your address or bank details;
  • buy or sell shares in the Company;
  • receive electronic notification when shareholder communications are published;
  • cast your AGM vote electronically;
  • help us reduce our paper, print and postage costs and also help the environment.

To register, go to www.shareview.co.uk and click on ‘Register’ in the top left corner. You will need your 11 digit shareholder reference number.

When is the Annual General Meeting?

Details of the date and location of the next Annual General Meeting (AGM), once available, will be posted along with the Notice of Meeting (detailing the resolutions proposed to be put to the AGM) on the Company website. Following the AGM each year, details of the Proxy Voting Totals will also be available to view online.

How can I register my vote for the Annual General Meeting?

The Company will notify registered shareholders of the details of the proposed resolutions for the Annual General Meeting (AGM) each year and send shareholders a Form of Proxy. If you are unable to attend the AGM you can return this Form of Proxy by post. Alternatively, you can register your vote electronically using the Company Registrar’s secure online voting service available at www.sharevote.co.uk using the identification numbers provided on the Form of Proxy.

How can I buy or sell HSS Hire shares?

There are many stockbrokers and share dealing services. Some of these offer online services for buying and selling shares and many operate telephone or postal dealing services. Commission charges may vary between different providers and according to the type of service offered. Your bank or a stockbroker will be able to advise you, or you can contact an independent financial advisor (www.unbiased.co.uk).

Can I have my dividends paid directly into my bank account?

Yes, you can do this by setting up a dividend mandate or payment instruction. This means that your cheque cannot get lost in the post and you will not have to wait for the cheque to clear once deposited in your bank account. Once you have set up a dividend mandate, future dividends will be paid directly into your account and the cleared funds will be available to you on the dividend payment date.

To arrange this download a dividend mandate form by registering with Equiniti, the Company Registrar, at www.shareview.co.uk. Alternatively, please contact Equiniti directly using the details provided above.

What should I do if I have lost my share certificate?

If your share certificate is lost or stolen you must inform Equiniti, the Company Registrar, immediately. They will ensure that a marker is put on your shareholding to prevent fraudulent use of your share certificate and will issue a replacement certificate once you have completed a letter of indemnity.

Who should I contact regarding a change in my name or address?

If your address changes, please inform Equiniti, the Company Registrar, as soon as possible by calling 0371 384 2030, or completing the Change of Address Form and sending it to Equiniti. If you have changed your name you will need to write to Equiniti providing your new name and previous name, an original or certified copy of your marriage certificate or changed name deed, your 11 digit shareholder reference number and referring to HSS Hire Group plc.

What is HSS Hire’s policy on hard copy and electronic communications?

As far as possible, except where shareholders have requested otherwise (or are new shareholders since the most recent shareholder e-communication consultation), HSS Hire provides shareholder documents via the Company’s website allowing communication with shareholders in the most environmentally friendly and cost effective way. Whenever a document has been made available on the Company’s website, shareholders receiving communications electronically will be notified in writing (by post, or by email where an email address has been provided).

How can I register to receive notifications by email when documents are available on the Company’s website?

To register to receive future HSS Hire shareholder notifications electronically, please visit the website of Equiniti, the Company Registrar, at www.shareview.co.uk. By signing up for a Shareview portfolio you will also be able to view information regarding your holding, change your address and bank details online, and sell or purchase shares in the Company.  When completing your details you will need your 11 digit shareholder reference number. The default option during registration is that your preferred method of delivery of Company communications is electronic.

HSS Pricing Announcement

Announcement of Offer Price-

HSS hire logo

Following its announcement on 12 January 2015 of its intention to proceed with an initial public offering (“IPO” or “Offer”) and its announcements on 22 January 2015 of the expected price range and publication of the Prospectus, HSS Hire Group plc announces the pricing of its IPO. Following a pre-IPO reorganisation, the Company will become a parent company of HSS Financing plc.

Please download document below:-

Partial Redemption of 6.75% Senior Secured Notes due 2019

For immediate release

22 January 2015

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HSS Financing plc

Partial Redemption of 6.75% Senior Secured Notes due 2019

HSS Financing plc announces that further to the proposed initial public offering of HSS Hire Group plc (“HSS Hire Group”) (the “IPO”), it is today instructing U.S. Bank Trustees Limited, as trustee, to give notice to the holders of its 6.75% Senior Secured Notes due 2019 (ISIN: XS0982709908) (the “Notes”) that it intends to call for redemption of £64.0 million of its outstanding Notes at a price of 106.750% of the principal amount, plus accrued and unpaid interest to the Redemption Date (as defined below). The redemption amount represents 32% of the original aggregate principal amount of the Notes. Immediately after such partial redemption 68% of the original aggregate principal amount of the Notes will be outstanding.

The partial redemption is conditional on admission of the ordinary shares of HSS Hire Group to the premium listing segment of the Official List of the UK Financial Conduct Authority (the “FCA”) and to trading on the main market for listed securities of the London Stock Exchange plc (together “Admission”), which is expected to occur on 9 February 2015 and contribution of by HSS Hire Group to HSS Financing plc of the net proceeds to HSS Hire Group from the IPO in an amount equal to at least the aggregate redemption price of the Notes.

The partial redemption will give rise to a redemption premium of approximately £4.3 million which will be charged as an exceptional finance cost in HSS Hire Group’s 2015 results.

Conditional on Admission on 9 February 2015 and receipt of proceeds as described above, the redemption date will be the 21st day following the delivery of notice (the “Redemption Date”) of the redemption by the trustee. Elavon Financial Services Limited, as registrar for the Notes shall select Notes for redemption in compliance with the requirements of the Euro MTF Market of the Luxembourg Stock Exchange, and those of DTC, Euroclear and Clearstream. Payment of the redemption price will be made by Elavon Financial Services Limited, UK Branch, the paying agent for the notes, on the Redemption Date upon presentation and surrender of the Notes as set forth in the redemption notice.

ENQUIRIES

HSS Hire Group(12/01/15) +44 (0) 20 7638 9571
Chris Davies, Chief Executive OfficerThereafter:+ 44 (0) 208 897 8566

Steve Trowbridge, Chief Financial Officer

Forward looking statements

This announcement contains “forward-looking” statement, beliefs or opinions within the meaning of applicable securities laws about the Group’s intention to launch an IPO. No assurances can be given that an IPO will occur.

Announcement of intention to float on the London Stock Exchange

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

This announcement is an advertisement for the purposes of the UK Prospectus Rules of the Financial Conduct Authority (the “FCA”) and not a prospectus and not an offer of securities for sale in any jurisdiction, including in or into the United States, Canada, Japan or Australia.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not purchase or subscribe for any shares referred to in this announcement except on the basis of information in the prospectus (the “Prospectus”) expected to be published by HSS Hire Group Limited (shortly to be renamed HSS Hire Group plc) (the “Company” and together with its subsidiaries and subsidiary undertakings following a pre-IPO reorganisation, “HSS” or the “Group”) in due course in connection with the proposed admission of its ordinary shares (“Shares”) to the premium listing segment of the Official List of the FCA and to trading on the main market for listed securities of London Stock Exchange plc (the “London Stock Exchange”) (together, “Admission”). A copy of the Prospectus will, following publication, be available for inspection from the Company’s website at /.

For immediate release 12 January 2015

HSS hire logo

HSS Hire Group Limited
Announcement of intention to float on the London Stock Exchange Appointment of new directors

HSS Hire Group, a leading provider of tool and equipment hire and related services in the United Kingdom and Ireland, today announces its intention to proceed with an initial public offering (the “Offer” or “IPO”). The Company intends to apply for admission of the Shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together “Admission”). Following a pre-IPO reorganisation, the Company will become a parent company of HSS Financing plc.

In connection with the IPO, HSS also announces the appointment of Neil Sachdev as Deputy Independent Non-Executive Chairman, and Amanda Burton and Douglas Robertson as Independent Non-Executive Directors. These individuals bring significant additional experience to the HSS Board.

The Offer is expected to comprise an offer of new and existing Shares. The Company intends to apply the entire primary proceeds of c. £103 million to reduce its current leverage and provide greater capacity for additional capital expenditure to drive future growth in the business, and for the payment of transaction fees.

Further information is available in the IPO section of HSS’s website at /.

ENQUIRIES

HSS Hire Group (12/01/15) +44 (0) 20 7638 9571 Chris Davies, Chief Executive Officer Thereafter: + 44 (0) 208 897 8566 Steve Trowbridge, Chief Financial Officer

Forward looking statements

This announcement contains “forward-looking” statement, beliefs or opinions within the meaning of applicable securities laws about the Group’s intention to launch an IPO. No assurances can be given that an IPO will occur.

Important notice

Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly into Australia (other than to persons in Australia to whom an offer may be made without a disclosure document in accordance with Chapter 6D of the Corporations Act 2001 (CTH) of Australia), Canada or Japan, to any persons in any of those jurisdictions or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction. Any failure to comply with these restrictions may constitute a violation of Australian, Canadian, Japanese or other applicable securities laws. The Offer and the distribution of this announcement and information in connection with Admission and the Offer may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. This announcement does not contain or constitute an offer or a solicitation of an offer to buy or subscribe for, Shares to any person in the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.

The Shares referred to herein may not be offered or sold in the United States unless registered under the US Securities Act of 1933, as amended (the “Securities Act”) or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The offer and sale of Shares referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. Subject to certain exceptions, the Shares referred to herein may not be offered or sold within Australia, Canada or Japan or to, or for the account or benefit of any national, resident or citizen of Australia, Canada or Japan. There will be no public offer of the Shares in the United States, Australia, Canada or Japan.

This announcement is addressed to and is only directed and being communicated at: (A) if in the European Economic Area (“EEA”), persons who are “qualified investors” within the meaning of Article 2(1)(e) of Directive 2003/71/EC (as amended, including by Directive 2010/73/EU to the extent implemented in the relevant member state of the EEA and any relevant implementing measure in each relevant member state) (“Qualified Investors”); and (B) if in the UK, persons who are Qualified Investors and who (i) have professional experience in matters relating to investments so as to qualify them as “investment professionals” under Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”); or (ii) are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order; and/or (C) persons to whom it may otherwise lawfully be communicated (all such persons referred to in (A), (B) and (C) together being “Relevant Persons”).

This announcement must not be acted or relied on (a) in the UK, by persons who are not Relevant Persons and also Qualified Investors and (b) in any member state of the EEA, other than the UK, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to (i) in the UK, Relevant Persons who are also Qualified Investors and (ii) in any member state of the EEA, other than the UK, Qualified Persons, and may be engaged in only with such persons. Nothing in this announcement constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. If you have received this announcement and you are not a Relevant Person and/or Qualified Investor, as applicable, you must not rely or act upon this announcement or any of its contents.

This announcement is an advertisement for the purposes of the UK Prospectus Rules of the FCA and not a prospectus. Any purchase or subscription of Shares in the proposed Offer should be made solely on the basis of the information contained in the Prospectus to be issued by the Company in connection with the Offer and Admission. Before purchasing any Shares, persons viewing this announcement should ensure that they fully understand and accept the risks which will be set out in the Prospectus when published. The information in this announcement is for background purposes only and does not purport to be full or complete. No reliance should be placed by any person for any purpose whatsoever on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

The IPO timetable, including the date of Admission may be influenced by things such as market conditions. There is no guarantee that the Offer and Admission will occur and you should not base your financial decisions on the Company’s intentions in relation to the Offer and Admission at this stage. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making such investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the IPO. The value of Shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the Offer for the entity or person concerned. Past performance cannot be relied upon as a guide to future performance.

Share Offer Information

HSS Hire Group plc, a leading provider of tool and equipment hire and related services in the United Kingdom and Ireland, has announced its intention to proceed with an initial public offering (the “Offer” or “IPO”) and to seek a listing on the main market of the London Stock Exchange. The Offer will comprise an offer of Shares to institutional investors and an Intermediaries Offer in which retail investors can participate.

HSS Hire is the second largest provider of tool and equipment hire and related services in the United Kingdom and Ireland based on revenues, the second largest provider of powered access equipment in the United Kingdom based on fleet size and the second largest provider of temporary power generation in the United Kingdom based on fleet size. HSS Hire has provided equipment hire services for more than 50 years, primarily focusing on the business to business market. Alongside traditional equipment hire, the Group offers a range of complementary, value-added services through its HSS OneCall, Reintec, TecServ, Groundcare and HSS Training businesses. The Group also offers specialist rental equipment under its ABird, Apex and UK Platforms brands.

HSS Hire operates from over 250 locations, serviced by a delivery fleet of over [375] commercial vehicles and approximately 2,900 colleagues, through a well-established hub and spoke distribution network comprising a national distribution centre, 10 regional distribution centres and 25 local distribution centres that aims to maximise equipment availability on an on-demand or next-day basis.

Between 1 January 2011 and 27 September 2014, Group revenues grew at a CAGR of [●]% and EBITDA grew at a CAGR of [●]%. HSS Hire’s market share in the UK increased from [●]% to [●]% (according to [●]) over the same period.

 

Q3 Results Announcement

London, 17 November 2014

HSS Hire Group announces third quarter 2014 results

Robust organic growth maintains strong trading momentum

HSS Hire Group (“HSS” or “the Group”) today announces financial results for the 39 weeks ended 27 September 2014.

Nine months financial highlights

  • Turnover increased by 27.8% to £208.5m (2013: £163.1m)
    • through a combination of 18.6% organic growth and a significant contribution of 9.3% from specialist acquisitions
  • EBITDA increased by 27.7% to £51.7m* (2013: £40.5m)

Third quarter financial highlights

  • Turnover increased by 20.4% to £77.9m (2013: £64.7m)
    • comprising of organic growth of 17.2%, supplemented by a 3.2% increase from the specialist acquisitions of Apex Generators and TecServ
  • EBITDA increased by 21.2% to £22.9m* (2013: £18.9m)

* EBITDA adjusted to remove certain exceptional costs.

Nine months trading and operating highlights

  • Group continuing to perform in line with expectations
  • Primary focus on business customers in the maintain and operate segments of the tool hire market underpins a further strong increase in turnover
  • Long-term investments in branch network, fleet and strategic acquisitions continue to deliver profitable growth
  • Specialist businesses, ABird (generators) and UK Platforms (powered access) continue to perform well year to date, while the 2014 acquisitions of Apex Generators and TecServ contributed an increase of 3% to Group turnover during the third quarter
  • Steady increase in the size of the hire fleet in line with the improved market opportunity
  • Healthy growth in the HSS OneCall service
  • 14 new HSS Local Format Branches opened in the first nine months of 2014, with roll-out accelerating through the period, providing local trades with a core range for collection, supported by next day delivery from HSS’ national hire fleet

Chris Davies, Chief Executive Officer at HSS Hire Group, said:

“The Group maintained its strong trading momentum in the third quarter with organic growth of 17 per cent, continuing the robust trend established in the first half of the year. Importantly, we continued to deliver healthy growth across all our customer groups and businesses with total revenue of £78m, up 20 per cent year-on-year, and EBITDA growth of 21 per cent.

“These strong results demonstrate the effectiveness of our customer-centric approach and primary focus on the maintain and operate segments of the tool hire market. Looking ahead, we remain confident about the potential of our long-term strategy to continue to generate strong revenue growth and high returns on capital.”

Under the ownership of Exponent, which acquired the Group in October 2012, HSS has continued to expand its operations and invest in its technology platforms and in strategic acquisitions that support its organic growth plan. As a result, the Group has grown a business which it believes is well placed to benefit from improving economic conditions. As HSS embarks on the next stage of its development, it has started to explore sources of funding, including the public equity markets. The Group will inform its stakeholders if it decides to proceed with a new funding arrangement as appropriate.

Conference call

A conference call for Senior Secured Notes investors will be held at 14:00hrs GMT on Monday 17 November 2014. If you would like to participate in this call, please register by email using the following email address: investors@hss.com.

Further information

For further information please visit: www.hsshiregroup.com. Download HSS’s Q3 2014 Report at www.hsshiregroup.com/financial-results. If you would like to be added to our distribution list for announcements relating to the Senior Secured Notes, please email: investors@hss.com.

Further enquiries:
Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0)7786 736 706 / +44 (0)20 3747 3800

Robert Halls, Corporate Development Manager, HSS Hire
rhalls@hss.com / +44(0)7792 153 525

Notes to Editors:

HSS Hire Group provides tool and equipment hire and related services in the UK and Ireland through a nationwide network of over 250 locations. Focusing primarily on the operate and maintain segments of the market, 90% of its revenues come from business customers. HSS was acquired by Exponent Private Equity in October 2012. For more information please see www.hsshiregroup.com

Cautionary statement

The information contained in this release does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. Investors and prospective investors in the securities of any issuer within the HSS Group should make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. Any decision to purchase securities of the HSS Group or any issuer within the HSS Group should be made solely on the basis of your own evaluation of the merits, risks and suitability of such investment based on the information you have, including publicly available information about the HSS Group and its affiliates, without relying on the HSS Group or any other person or on this release.

The inclusion of financial information in this release or any related document should not be regarded as a representation or warranty by the HSS Group or any issuer within the HSS Group or any of their respective affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condition or results of operations by the HSS Group or any issuer within the HSS Group and should not be relied upon when making an investment decision. Certain statements in this announcement are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The HSS Group nor any issuer within the HSS Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

Q3 2014 Notice of Results Announcement

Q3 2014 Notice  of Results Announcement

HSS Hire Group (“HSS” or “the Group”) will announce its third quarter financial results for the 39 weeks ended 27 September 2014 on Monday, 17 November 2014.

This announcement will be followed by a conference call for investors and analysts at 14:00hrs GMT.

For further information, please contact:

Media enquiries
Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0) 7786 736 706

Investor enquiries
Hannah Jethwani, Senior Associate, Fairvue Partners
hss@fairvuepartners.com +44 (0) 207 614 2900

Robert Halls, Group Finance Strategy & Investor Relations Manager, HSS Hire
rhalls@hss.com +44 (0) 7792 153 525

For more information please see: www.hsshiregroup.com

H1 RESULTS ANNOUNCEMENT

HSS Hire Group announces first half-year 2014 results

‘Strong growth continues across all regions, customer groups and product categories’

HSS Hire Group (“HSS” or “the Group”) today announced financial results for the 26 weeks ended 28 June 2014.

First half financial highlights
• Turnover increased by 33% to £130.6 million (2013: £98.4m)
– Driven primarily by 19% organic growth
– Supplemented by 13% increase from the specialist acquisitions of UK Platforms, Apex and TecServ
• EBITDA increased by 34% to £28.9 million* (2013: £21.6m)

Second quarter financial highlights
• Turnover increased by 36% to £67.7 million (2013: £49.8m)
• EBITDA increased by 35% to £15.3 million* (2013: £11.3m)
• Acquisition of specialist generator hire business, Apex Generators, completed
• Revenue underpinned by strong organic growth supplemented by the specialist acquisitions of Apex (acquired March 2014); TecServ (acquired November 2013); UK Platforms (acquired June 2013).

Chris Davies, Chief Executive Officer at HSS Hire Group said:

“The Group has achieved a strong first half performance, with our long-term strategy continuing to drive revenue and EBITDA growth. In all customer groups, regions and product categories we have achieved organic growth – supplemented by positive contributions from our specialist acquisitions. We continue to invest in our business with an unswerving focus on customer needs.

“The Group is performing well and on track to deliver against management expectations for the full year.”

First half trading and operational highlights
• Revenue underpinned by strong organic growth, supplemented by the specialist acquisitions of Apex (acquired March 2014); TecServ (acquired November 2013); UK Platforms (acquired June 2013).
• Branch network further strengthened with the addition of eight new HSS local format branches providing local trades with a range of kit for collection and next day delivery from HSS’s national hire fleet. These branches are trading in line with expectations.
• The long-term investments in the branch network, fleet and strategic acquisitions continue to deliver profitable growth.
• Expansion of UK Platforms, the specialist powered access provider acquired in June 2013, into Scotland.
• Expansion of Powered Access and Power Solutions into Ireland.
• Continued strategic investment in hire fleet of £38.8m in H1 2014 (2013: £14.1m), responding to strong customer demand observed during the end of 2013 and through H1 2014.
• Partnership established with Unipart Group to optimise engineering services capabilities and further improve logistics operations.

Conference call
A conference call for Senior Secured Notes investors will be held at 13:00hrs BST on Wednesday 10 September 2014. Investors or analysts who are not yet registered for this call can register to receive dial in details at: /investors-section-landing/.

Further information
For further information please visit: www.hsshiregroup.com. Download HSS’s full H1 2014 Report at www.hsshiregroup.com/financial-results. If you would like to be added to our distribution list for announcements relating to the Senior Secured Notes, please email: hss@fairvuepartners.com.

Further enquiries

Media enquiries:
Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0)7786 736 706

Investor enquiries:
Robert Halls, Group Finance Strategy & Investor Relations Manager, HSS Hire rhalls@hss.com
+44 (0) 7792 153 525

Esther Yang, Fairvue Partners hss@fairvuepartners.com +44 (0) 207 614 2900

ENDS

Notes to Editor

* EBITDA adjusted to remove certain exceptional costs.

HSS Hire Group provides tools, equipment and related services in the UK and Ireland through a nationwide network of over 250 locations. HSS was acquired by Exponent Private Equity in October 2012. For more information please see www.hsshiregroup.com.

HSS completes acquisition of Apex Generators
On March 31, 2014, HSS acquired the Scottish generator hire company, Apex Generators Ltd, to strengthen the Group’s existing specialist power division – which includes the ABird business – enabling service to a wider geographical area and greater ability to fulfill national power solutions contracts. In 2013 Apex had a turnover of c. £3.7m and EBITDA of c. £1.5m.

Acquisitions made by the Group during 2013:
• Specialist powered access provider, UK Platforms
• Visual signboard company, MTS Ireland
• Cleaning equipment technical services provider, TecServ

Branch opening programme
• HSS Hire Group’s branch network was expanded during H1 with eight new “local format branches”.

Cautionary statement

The information contained in this release does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. Investors and prospective investors in the securities of any issuer within the HSS Group should make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. Any decision to purchase securities of the HSS Group or any issuer within the HSS Group should be made solely on the basis of your own evaluation of the merits, risks and suitability of such investment based on the information you have, including publicly available information about the HSS Group and its affiliates, without relying on the HSS Group or any other person or on this release.

The inclusion of financial information in this release or any related document should not be regarded as a representation or warranty by the HSS Group or any issuer within the HSS Group or any of their respective affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condition or results of operations by the HSS Group or any issuer within the HSS Group and should not be relied upon when making an investment decision. Certain statements in this announcement are forward looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future.

The HSS Group nor any issuer within the HSS Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

H1 Notice of Results Announcement

H1 Notice of Results Announcement

HSS Hire Group (“HSS” or “the Group”) will announce its half year financial results for the 26 weeks ended 28 June 2014 at an estimated time of 06:00hrs on Wednesday 10 September 2014.

HALF YEAR 2014 RESULTS ANNOUNCEMENT

Half year 2014 results announcement

£200 million 6.75% Senior Secured Notes due 2019

 

HSS Hire Group (“HSS” or “the Group”) will announce its half year financial results for the 26 weeks ended 28 June 2014 at an estimated time of 06:00hrs on Wednesday 10 September 2014.

 

This announcement will be followed by a conference call for investors and analysts at 13:00hrs BST

 

 

 

For further information, please contact:

 

Media enquiries

Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0) 7786 736 706

 

Investor enquiries
Esther Yang, Senior Associate, Fairvue Partners
hss@fairvuepartners.com +44 (0) 207 614 2900

 

Robert Halls, Group Finance Strategy & Investor Relations Manager, HSS Hire
rhalls@hss.com +44 (0) 7792 153 525

 

For more information please see: www.hsshiregroup.com

 

HSS GROUP STRENGTHENS BOARD

John Gill appointed Group COO; Steve Trowbridge joins Board as Group CFO

The HSS Group announces the following changes to its Board of Directors.

John Gill, currently the Group Chief Financial Officer, will move to the new role of Group Chief Operating Officer, assuming responsibilities for the operating businesses within the Group.

Steve Trowbridge, currently Group Finance Director, will join the Board as Group Chief Financial Officer.

John and Steve will transition to their new roles over the following quarter. Steve’s appointment to the Board is immediate.

Chris Davies, Group CEO commented: “HSS Hire Group has grown solidly both organically and through our acquisitions of specialist businesses. These Board changes reflect the need to strengthen operational management and the Board as a consequence of increasing scale and complexity. John Gill has made a significant contribution to the progress of the Group during his tenure as CFO and is well positioned to take responsibility for our operating businesses. Similarly, Steve Trowbridge has guided the Group well as Finance Director and is ideally positioned to step up to the role of CFO and to join the Board.”

Further information
For further information about HSS Hire Group please visit: www.hsshiregroup.com.

If you would like to be added to our distribution list for announcements relating to the Group’s £200 million 6.75% Senior Secured Notes due 2019, please email: investors@hss.com.

Further enquiries:
Fiona McFadden, Head of PR, Founded

fiona.mcfadden@founded.com +44 (0)7786 736 706 / +44 (0)20 3747 3800

Robert Halls, Corporate Development Manager, HSS Hire
rhalls@hss.com / +44(0)7792 153 525

Notes to Editors:
HSS Hire Group provides tools, equipment and related services in the UK and Ireland through a nationwide network of over 250 locations. HSS was acquired by Exponent Private Equity in October 2012. For more information please see www.hsshiregroup.com.

Cautionary statement
The information contained in this release does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. Investors and prospective investors in the securities of any issuer within the HSS Group should make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. Any decision to purchase securities of the HSS Group or any issuer within the HSS Group should be made solely on the basis of your own evaluation of the merits, risks and suitability of such investment based on the information you have, including publicly available information about the HSS Group and its affiliates, without relying on the HSS Group or any other person or on this release.

The inclusion of financial information in this release or any related document should not be regarded as a representation or warranty by the HSS Group or any issuer within the HSS Group or any of their respective affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condition or results of operations by the HSS Group or any issuer within the HSS Group and should not be relied upon when making an investment decision. Certain statements in this announcement are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The HSS Group nor any issuer within the HSS Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

HSS Hire Group announces first quarter 2014 results

London, 3 June 2014

HSS Hire Group announces first quarter 2014 results

Acquisitions, organic growth and operational initiatives combine to deliver strong results

HSS Hire Group (“HSS” or “the Group”) today announced financial results for the quarter ended 29 March 2014.

Financial Highlights

  • 29.4% increase in revenue to £62.9m (2013: £48.6m)
  • 31.9% increase in EBITDA to £13.6m* (2013: £10.3m)

 

Chris Davies, Chief Executive Officer at HSS Hire Group said:

“We’ve completed another solid quarter of growth and I’m encouraged to see the positive trend our strategy promoted throughout 2013 continue, with £62.9m in revenue, up 29.4% year-on-year. This is a strong start to the year achieved by organic growth across all customer groups, businesses and geographies, complemented by contributions from our recent acquisitions and improving market conditions.

“We will continue to invest in our core fleet to meet rising customer demand against improving economic conditions and to promote the growth of our business throughout 2014.”

Developments after the reporting period

HSS completes acquisition of Apex Generators

On March 31 2014, HSS acquired Scottish generator hire company, Apex Generators Ltd, to strengthen the Group’s existing specialist power division – enabling service to a wider geographical area and greater ability to fufill national power solutions contracts.

Conference call
A conference call for Senior Secured Notes investors will be held at 14:00hrs on BST Tuesday 03 June 2014. If you would like to participate in this call, please register by email using the following email address: investors@hss.com.

Further information
For further information please visit: www.hsshiregroup.com. Download HSS’s full Q1 2014 Report at www.hsshiregroup.com/financial-results. If you would like to be added to our distribution list for announcements relating to the Senior Secured Notes, please email: investors@hss.com.

Further enquiries:
Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0)7786 736 706 / +44 (0)20 3747 3800

Robert Halls, Corporate Development Manager, HSS Hire
rhalls@hss.com / +44(0)7792 153 525

Notes to Editors:
HSS Hire Group provides tools, equipment and related services in the UK and Ireland through a nationwide network of over 250 locations. HSS was acquired by Exponent Private Equity in October 2012. For more information please see www.hsshiregroup.com.

* EBITDA adjusted to remove certain exceptional costs.

Acquisitions made by the Group during 2013 include:

  • Specialist powered access business, UK Platforms
  • Visual signboard provider, MTS in Ireland
  • Cleaning equipment technical services provider, TecServ

Cautionary statement
The information contained in this release does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. Investors and prospective investors in the securities of any issuer within the HSS Group should make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. Any decision to purchase securities of the HSS Group or any issuer within the HSS Group should be made solely on the basis of your own evaluation of the merits, risks and suitability of such investment based on the information you have, including publicly available information about the HSS Group and its affiliates, without relying on the HSS Group or any other person or on this release.

The inclusion of financial information in this release or any related document should not be regarded as a representation or warranty by the HSS Group or any issuer within the HSS Group or any of their respective affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condition or results of operations by the HSS Group or any issuer within the HSS Group and should not be relied upon when making an investment decision. Certain statements in this announcement are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The HSS Group nor any issuer within the HSS Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

STATEMENT FROM CHRIS DAVIES, CEO, IN RESPONSE TO PRESS ARTICLES CONCERNING THE MINIMUM WAGE

The minimum wage is one of the most important workplace rights. It is a fundamental that we value, respect and adhere to and we are outraged at the accusation that we have not complied with this legislation. We have contacted the government minister responsible, Jenny Willott, MP, the Parliamentary Under Secretary of State for Employment Relations and Consumer Affairs, to request a robust apology.

The facts are as follows:

  • In October 2013, an error in upload to our computer system meant the pay of 15 colleagues was not updated with the changes to the minimum wage in that month by between 47p and £25 each – a total of £150.
  • This was an administrative error that we immediately noticed and set about correcting; the underpayments were rectified within a month.
  • We received an acknowledgement from HMRC confirming that they were satisfied with our response and were issued a Notice of Underpayment some three months after we first noticed the error and two months after it was corrected.

We feel strongly that the action of “naming and shaming” for a genuine administrative error that was quickly and proactively notified and rectified is disproportionate and unfair. Having sought legal advice, we also believe that HMRC has not followed its own process.

HSS Group currently employs over 2,800 colleagues across the UK and Ireland and only 20 of these are currently paid the minimum wage whilst all others are above it. Over the last 12 months we have welcomed 655 new colleagues to the business and trained 36 apprentices. We are committed to paying all colleagues fairly and legally and we also go a long way over and above that with a strong track record of investing in our people. In May 2013, we opened a dedicated training facility for all new sales colleagues to receive residential training, representing a first in the UK hire industry. We also provide all colleagues with life assurance and health care benefits and of course, we contribute to their pensions. There are many factors which substantially contribute to a company’s success but, for us, our core belief in people and our distinct workplace culture is the most important and we work hard to support our people.

Given these facts, it is ludicrous that HSS should have been listed alongside companies which have allegedly contravened employment law. We consider this to be deeply damaging to our hard won reputation as a meticulously fair, inclusive and strongly progressive employer and resent the accusation.

Chris Davies,
Chief Executive Officer
HSS Hire Group

For any media enquiries relating to this subject please contact:
Fiona McFadden on +44 7786 736 706

HSS HIRE GROUP ANNOUNCES RESULTS FOR FY ‘13

HSS Hire Group (“HSS” or “the Group”) today announces its full-year financial results for the 52 weeks ending 28 December 2013.

Financial Highlights

  • 24% increase in revenue to £226m (2012: £182m)
  • 36% increase in EBITDA to £55m* (2012: £40m)
  • 27% Return on Assets (2012: 20%)

Alan Peterson, Chairman at HSS Hire Group commented:

“2013 was a strong year for HSS. The team achieved strong organic growth across all our customer groups, product ranges, geographies and services; this was complemented by our strategy to acquire promising specialist businesses whilst also reinvesting in our future growth. We are confident that we will continue to enhance value by achieving our target of occupying number one or two positions in our key markets. At the same time, we will continue to monitor opportunities to add further growth and value through selective acquisitions.”

Chris Davies, Chief Executive Officer at HSS Hire Group commented:

“I am pleased with the financial performance during 2013. Over the last twelve months we have continued to deliver on our targets and produce industry-leading return on assets. This strong performance is the result of our highly diversified customer base and focus on growth over the long-term – underpinned by a consistent strategy of optimising the network, driving operational efficiency, investing in people and systems and delivering added-value services.”

Trading and Operational Highlights

  • Continued focus on resilient hire markets, in the ‘fit-out’, ‘maintain’ and ‘operate’ segments.
  • Organic growth supplemented by acquisitions: specialist powered access business UK Platforms; visual signboard provider, MTS in Ireland; cleaning equipment technical services provider, TecServ; and by the development of power generation business ABird, acquired at the end of 2012.
  • Sustained investment in the size and quality of the rental fleet, network, infrastructure and systems of all Group businesses, with total capital expenditure of £38m (2012: £26m).
  • Distribution network further strengthened with the addition of 20 new branches including further HSS local format branches designed to serve local trades with a range of kit to be collected as well as next day delivery of the total HSS range.
  • Acceleration of technology innovation at ABird Power Solutions under the RFM Smart Equipment brand – delivering complete control over generators from smartphones, tablets and desktops.
  • Opening the HSS Academy: a purpose-built training facility providing residential sales and service training to colleagues.

Developments after the reporting period

Successful Group refinancing
In February 2014, HSS completed the offering of £200m in aggregate principal amount of 6.75% senior secured notes due 2019. The term of the senior secured notes is 5.5 years and they mature in August 2019. This offering enabled the Group to improve its capital structure, paying down existing facilities and some of its shareholder loans. Alongside the senior secured notes issue, the Group secured a £60m Revolving Credit Facility providing ample liquidity to meet the future investment and development needs of the Group.

HSS completes acquisition of Apex Generators
On March 31 2014, HSS acquired Scottish generator hire company, Apex Generators Ltd, to strengthen the Group’s existing specialist power division – enabling service to a wider geographical area and greater ability to fulfill national power solutions contracts.

HSS introduces Activ’ Shield Bar
HSS has commenced a programme to fit UK Platforms’ powered access booms with anti-entrapment technology from manufacturer, Haulotte, responding to the need to protect operators from risk of crush and aid escape from entrapment. This will be completed during 2014 as part of a commitment to provide “safety as standard”.

Conference call
A conference call for Senior Secured Notes investors will be held at 14:00hrs BST on Friday 25 April 2014. If you would like to participate in this call, please register by email using the following email address: investors@hss.com.

Download HSS’s 2013 Annual Report at www.hsshiregroup.com/financial-results.

Further information
For further information please visit: www.hsshiregroup.com. If you would like to be added to our distribution list for announcements relating to the Senior Secured Notes, please email: investors@hss.com.

Further enquiries:
Fiona McFadden, Head of PR, Founded
fiona.mcfadden@founded.com +44 (0)7786 736 706 / +44 (0)20 3747 3800

Robert Halls, Corporate Development Manager, HSS Hire
rhalls@hss.com +44(0)7792 153 525

Notes to Editors:
HSS Hire Group provides tools, equipment and related services in the UK and Ireland through a nationwide network of over 250 locations. HSS was acquired by Exponent Private Equity in October 2012. For more information please see www.hsshiregroup.com.

* EBITDA adjusted to remove certain exceptional costs.

Cautionary statement
The information contained in this release does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. Investors and prospective investors in the securities of any issuer within the HSS Group should make their own independent investigation and appraisal of the business and financial condition of such issuer and the nature of the securities. Any decision to purchase securities of the HSS Group or any issuer within the HSS Group should be made solely on the basis of your own evaluation of the merits, risks and suitability of such investment based on the information you have, including publicly available information about the HSS Group and its affiliates, without relying on the HSS Group or any other person or on this release.

The inclusion of financial information in this release or any related document should not be regarded as a representation or warranty by the HSS Group or any issuer within the HSS Group or any of their respective affiliates, advisors or representatives or any other person as to the accuracy or completeness of such information’s portrayal of the financial condition or results of operations by the HSS Group or any issuer within the HSS Group and should not be relied upon when making an investment decision.

Certain statements in this announcement are forward-looking. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The HSS Group nor any issuer within the HSS Group undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

FIRST QUARTER 2014 RESULTS ANNOUNCEMENT

First quarter 2014 results announcement

£200 million 6.75% Senior Secured Notes due 2019

HSS Hire Group (“HSS” or “the Group”) will announce its financial results for the quarter ended 29 March 2014 at an estimated time of 06:00hrs on Tuesday 3 June 2014.

This announcement will be followed by a conference call for Senior Secured Notes investors at 14:00hrs BST.

Financial News and Information Centre