Speedy Hire buys Lloyds British Testing

(ShareCast News) - Tools, equipment and plant hire services company Speedy Hire has bought specialist lifting equipment business Lloyds British Testing from administrator PwC for undisclosed sum.Speedy said Lloyds complements its existing lifting, testing and training businesses and will enhance the company's overall offering to its customers. Pro-forma earnings before interest, taxes, depreciation and amortisation for the year to the end of December are expected to amount to approximately £1m.Around 200 Lloyds employees will join Speedy from across the existing network of 12 Lloyds British offices.Chief executive Russell Down said: "This acquisition gives us the ability to provide enhanced training, testing and lifting services to our customers, and realise synergies with our existing lifting business. I would like to warmly welcome Lloyds British employees to Speedy."At 0855 GMT, Speedy shares were up 0.7% to 52.38p.