Ashtead Group

Ashtead Group Public Limited Company
FormerlyNeedroy Limited (1984–1986)[1]
Company typePublic limited company
LSE: AHT
FTSE 100 Component
ISINGB0000536739
IndustryPlant hire
Founded1947; 77 years ago (1947)
HeadquartersLondon, England, UK
Key people
RevenueIncrease £9,667.3 million (2023)[2]
Increase £2,639.7 million (2023)[2]
Increase £1,617.7 million (2023)[2]
Number of employees
20,032 (2024)[3]
Websiteashtead-group.com

Ashtead Group Public Limited Company is a British industrial equipment rental company based in London, England. It is listed on the London Stock Exchange as a constituent of the FTSE 100 Index,[4] but, as of December 2024, it is contemplating a US stock market listing.

History

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Ashtead was founded in 1947, in the village of Ashtead, Surrey, as Ashtead Plant and Tool Hire.[5] In 1986, it was first listed on the London Stock Exchange.[5]

In September 2018, Ashtead appointed Paul Walker as non-executive chairman of its board.[6][7]

In November 2018, it was announced that Geoff Drabble would retire as CEO after twelve years on 1 May 2019, and would be succeeded by Brendan Horgan, the Group Chief Operations Officer and chief executive of Sunbelt Rentals, Ashtead's North American business.[8]

In June 2022, Sunbelt Rentals, Ashtead's main operating subsidiary, was announced as an investor in lithium-ion battery developer Britishvolt.[9] After Britishvolt went into administration in January 2023, Ashtead later revealed it took a £35m hit from its collapse.[10]

In December 2024, Ashtead announced plans (to be discussed with shareholders) to move its primary stock market listing from London to the US. It said the US was a "natural long term listing venue" because the most of the group's profit came from North America, and its leadership, most of its 25,000 employees and its headquarters were all in the US.[11]

Operations

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The company operates internationally, servicing customers in Canada, the United States and the United Kingdom.[12] Approximately 85% of its revenue is generated in the United States through the subsidiary Sunbelt Rentals, currently present in over 1,000 locations across the United States and Canada.[12]

The company's non-executive directors are Paul Walker, Angus Cockburn, Jill Easterbrook, Tanya Fratto, Reneta Ribeiro, Lucinda Riches and Lindsley Ruth.[7]

British operations

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Sunbelt Rentals, formerly known as A-Plant, is present in over 185 locations throughout the United Kingdom, and has the following divisions:[12]

  • A-Plant, Plant
  • A-Plant, Accommodation
  • Astra Site Services, Excavator Attachments
  • Brightlights
  • FLG Services, Lifting and Handling Specialists
  • Hoist-It LTD
  • GB Access
  • Hewden Industrial, equipment hire to the petrochemical industry
  • Leada Acrow
  • Live Trakway
  • Mather+Stuart Power Solutions
  • PSS Hire
  • Rapid Climate Control
  • Tool Hire Express
  • A-Plant, Powered Access
  • A-Plant Customer Training Solutions
  • A-Plant, Rail
  • A-Plant, Lux Traffic Systems
  • Opti-cal Survey Equipment (Survey Hire Express)

References

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  1. ^ "Ashtead Group Public Limited Company overview - Find and update company information - GOV.UK". Companies House. 11 April 1984. Retrieved 13 February 2024.
  2. ^ a b c "Annual Results 2023" (PDF). Ashtead Group. Retrieved 11 February 2024.
  3. ^ "At a glance - Ashstead Group". Ashtead Group. Retrieved 11 February 2024.
  4. ^ "Two Companies To Join FTSE 100 Index". mondovisione.com. Retrieved 16 April 2020.
  5. ^ a b "Our history". Ashtead Group. Retrieved 15 March 2015.
  6. ^ "Ashtead appoints Paul Walker as new chairman". Proactiveinvestors UK. 26 June 2018. Retrieved 28 October 2022.
  7. ^ a b "Leadership - Ashtead Group". www.ashtead-group.com. Retrieved 28 October 2022.
  8. ^ Pollok, Murray (30 November 2018). "Drabble to retire from Ashtead in 2019". KHL. Retrieved 5 October 2019.
  9. ^ "Britishvolt partners with Sunbelt Rentals to lower carbon footprint of Gigaplant and develop heavy equipment battery solutions (1 June 2022)". Britishvolt. 31 May 2022. Retrieved 12 January 2023.
  10. ^ Ford, Coreena (10 March 2023). "Britishvolt collapse triggers £35m hit for listed plant hire firm Ashstead". Business Live. Retrieved 13 March 2023.
  11. ^ "Blow to UK as equipment hire giant Ashtead heads for US". BBC News. 10 December 2024. Retrieved 10 December 2024.
  12. ^ a b c "AHT Profile & Executives - Ashtead Group PLC". Bloomberg. Retrieved 15 March 2015.
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