acquisition of beeline rentals & hire, page-5

(NHR) National acquires Beeline
6-Dec

On Friday 3 December 2004, National Hire Group Limited signed and completed the acquisition of the "Beeline Rentals & Hire" tools and equipment rental business of Edsleaf, which operates from a single site at Berkley Vale on the New South Wales Central Coast.

The branch will be re-branded National Hire The Cat Rental Store.

National Hire considers this business acquisition will enable it to service its existing and new customers in the New South Wales Central Coast area and provide a platform for growth in that area for each of National Hire's specialist business units, including:

- portable toilets and site accommodation;
- elevating work platforms; and
- de-watering equipment.

This will be in addition to broadening the range of tools and equipment, Caterpillar product, lighting towers and generators hired by the business.

National Hire will be applying additional capital expenditure as required to expand into the region's equipment hire market from the platform provided by this acquisition.

The acquisition was funded from National Hire's existing cash reserves.