Balloo Hire acquired
We have learnt that Sammons Enterprises, owner of Briggs Equipment, has acquired Northern Irish rental company Balloo Hire.
While there is no official release yet, employees were informed on Monday morning and we believe that the completion will be due in April. Balloo is majority owned by managing director Dan Mccaffrey and was established in May 1987.
Revenues to the end of March 2018 were in the region of 11.6 million with a pre-tax profit of £2.9 million, with total assets of £23.3 million and a tangible net worth of £7.5 million. No details of the transaction have been released.
The company operates from five locations in the North – Belfast, Bangor, Lisburn, Ballyclare and Glenavy, and one in Dublin, but we understand that the Dublin operation is not included: The company runs an extensive powered access fleet along with a full telehandler line up.
We will update this item as soon as we have official word.