HSS Hire

Canaccord Genuity acts as Financial Adviser and Broker to HSS Hire Group plc on its Strategic Partnership and Disposal

Canaccord Genuity’s Corporate Broking and Advisory team is pleased to announce that it has acted as Financial Adviser and Broker to existing client HSS Hire Group plc (“HSS”) on its strategic transaction with Speedy Hire plc (“Speedy Hire”) and Endless LLP.

The transaction comprises three key elements: a five-year ProService Supply Agreement with Speedy Hire (with an option to extend for a further three years); the disposal of HSS’s UK equipment hire operations (THSC) to funds advised by Endless LLP; and a £35 million investment by Speedy Hire, resulting in Speedy owning approximately 9.99% of the enlarged share capital of the Group.

The partnership establishes Speedy Hire as the principal equipment supplier to ProService, HSS’s digital marketplace, and includes Speedy routing re-hire, resale and training service requirements through the ProService platform. The agreement is expected to enhance net margins and be earnings-accretive in FY27, while accelerating HSS’s transition to a capital-light, scalable, technology-led marketplace model.

The disposal of THSC to Endless marks a clean exit from HSS’s legacy, asset-intensive operations, leaving a standalone, cash-generative platform business. Following completion, HSS intends to rebrand as ProService Building Services Marketplace plc.