December 16, 2003
Willkie client 3i Group plc announces agreement to buy tool rental business HSS Service Group Ltd. from Davis Service Group plc for £145 million ($254 million).
On December 16, Willkie client 3i Group plc announced that it has agreed to buy tool rental business HSS Service Group Ltd. from Davis Service Group plc for £145 million ($254 million). HSS, which Davis purchased for £52 million in 1993 and expanded in 2001 through the $47 million acquisition of Denver-based RentX Industries Inc., now operates in the U.K., Ireland, the U.S. and Germany, and has franchising arrangements in seven additional countries. London-based 3i Group is a buyout and venture capital firm. The December 17 Daily Deal notes that the deal, which is expected to close in January, was handled by Gregory Astrachan and William Hiller.
