Acquisition sees Merseyside firm Speedy safeguard jobs at 200-year-old inspection company

Merseyside tool and plant hire company Speedy has this morning (December 19) announced its acquisition of Lloyds British Testing Ltd, safeguarding hundreds of jobs.

The Newton-le-Willows-based firm has snapped up Lloyds British’s brand, business and assets from its administrator, professional services firm PwC.

Headquartered in the West Midlands, Lloyds British carries out the testing, certification and inspection of lifting equipment and training from locations across the UK.

Following its acquisition, around 200 Lloyds British employees will join Speedy from the firm’s existing network of 12 offices.

Lloyds British was founded in 1812. For the year ending December 31 2016, the business’ pro-forma normalised EBITDA will amount to around £1m.

Speedy chief exec 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.”