Onsite positioned for growth
Onsite Rental Group has acquired Western Australian equipment hire business GCS Hire, the equipment hire division of Global Construction Services Limited (GCS).
GCS Hire is one of Western Australia’s leading plant and equipment hire companies, and the acquisition is complementary to Onsite from a customer and a fleet perspective.
GCS customers will continue to be well supported while any surplus fleet will be redeployed to the east coast to support Onsite’s growth in this market which has been underpinned by the resurgence in investment in infrastructure projects.
Mike Foureur, CEO of Onsite, said: “The acquisition of GCS Hire is transformative for our business, significantly broadening our customer base and enhancing our asset profile giving us considerable flexibility to better serve our customers from our national platform.
“This follows the recapitalisation of Onsite announced in September, which enables us to further invest in our fleet, provide an expanded suite of products to service customers’ needs and to pursue growth opportunities,” Mike said.
“There are strong synergies between the two businesses. GCS hire’s customer base is complementary to Onsite’s and its fleet is closely aligned to Onsite’s. This provides us with enhanced capabilities in terms of fleet to bid on contracts with our strong national footprint. It also bolsters the depth and strength of our fleet to be redeployed into the significant demand being seen in the east coast and other markets,” he said.
The acquisition is subject to a number of completion conditions and is expected to be complete within three months.