HSS tools up for future deal

Michael Bow
Follow Michael
TOOLS company HSS Hire Group is weighing plans to list on the stock market next year after boosting sales by a third this year due a boom in corporate outsourcing.

The company’s owner, Exponent Private Equity, is exploring options for the company, such as an initial public offering or a trade sale, after turnover rose £130.6m in the first half of the year from £98.4m.

Exponent bought the group in 2012 and HSS, which makes most of its money from corporate customers such as Sainsbury’s and Heathrow Airport, had previously been owned by 3i. Sky News first reported HSS had been exploring plans.

All parties declined to comment.