Speedy Hire acquired Geason Holdings for £35m.

Speedy Hire, the UK's leading tools, equipment and plant hire services company, acquired Geason Holdings, a training provider. Cash consideration paid on completion amounted to £9.0m with net cash assumed of £0.3m. Contingent consideration of up to £26.0m may be payable in cash based on a multiple of 3.25x EBITA, dependent on the combined performance of Geason and Speedy's training business in the three years post acquisition. The acquisition will allow Speedy to better support its customers in training and developing their staff and accelerate the growth of Speedy's services businesses.