Commercial Agreement and Equity Subscription
Speedy Hire plc has completed its commercial agreement with ProService, a transaction expected to generate £50-55 million in annualised revenue and be significantly earnings accretive in its first full year of trading. The company confirmed no material changes have occurred since the initial transaction announcement and will provide further details on the live agreement at its Half Year results on November 26, 2025.
Select text to share a quote on X · sign in to keep highlights & notes in your SDY notes
Completion of commercial agreement with ProService and investment in ProService Building Services Marketplace plc
Further to the announcements on 6 October ("Transaction Announcement") and 6 November, Speedy, the UK's leading tools and equipment hire services company, is pleased to announce that the conditions of the Transaction (as defined in the Transaction Announcement) have now been fully satisfied and accordingly the Transaction has completed. For the purposes of UKLR 7.3.3, Speedy confirms that there has been no material change affecting any matter contained in the Transaction Announcement.
Speedy will provide more details on the commercial agreement with ProService, which is now live, at its Half Year results on 26 November 2025.
Dan Evans, CEO of Speedy, commented:
"We are delighted that our commercial agreement with ProService is now live. This is a significant milestone for Speedy made possible by our Velocity growth strategy. The deal, expected to be worth £50-55m of annualised revenue, will be significantly earnings accretive in its first full year of trading, following a period of integration. We look forward to working with ProService going forward."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.