Speedy Hire takes inspiration from Tesco

TOOL hire giant Speedy Hire is remodelling its national network of depots after taking inspiration from supermarket behemoth Tesco.

Haydock-based Speedy – Merseyside’s biggest listed company – is fighting its way back to profit after being battered by the recession in the construction sector.

The company has won contracts with infrastructure firms including Thames Water, while its international arm has won deals in the Middle East. And, in an interview with tomorrow’s LDP Business magazine, chief executive Steve Corcoran has revealed plans to remodel its chain of UK hire depots to help it meet the needs of its customers.

Just as the superstore giant has Tesco Extra, Tesco superstores and Tesco Express stores, so Speedy will have Multi Service Centres (MSCs), Superstores and Local centres. The MSCs – aimed at large construction firms – will stock all of Speedy’s equipment and will also offer access to Speedy’s advisory services.

The superstores will offer a smaller range of equipment for large contractors, while the local stores will offer a range of tool hire more suited to small firms. Speedy already has its first MSC up and running in Birchwood, Warrington. “We think it’s the biggest hire operation in the UK,” said Mr Corcoran. Work is now under way on the group’s first five superstores.

Mr Corcoran expects the conversion programme will take five years to roll out. At the end of it, he expects to have 10-12 MSCs, up to 60 superstores, and around 200 local stores. The chief executive also said he hoped Speedy would grow into a £1bn group, driven by international growth.

Source : Allistair Houghton - Liverpool Daily Post