Think Hire has announced a major new inward investment following an outstanding performance that has seen sales increase 400% year on year. The North-West-based company specialises in the hire of site accommodation and renewable and hybrid power supplies.
The multi-million-pound investment comes from a consortium of three local businessmen: Craig Ainscough, Steve Connelly and Aidan Grimshaw, who will not only offer financial support but also bring extensive hire experience from their time together at the hugely successful Ainscough Group of Companies.
The investment will be used to fuel a significant expansion of the Think Hire operation over the next three years.
“It is fantastic to have the backing of investors who see our potential and share our goals,” explained Neil Richardson, Think Hire Managing Director. “Over the next three years, we aim to quadruple the size of Think Hire and take the business national, expanding from the North West and South East to new sites in the West Midlands and across the UK.”
A rare success story in the Covid pandemic, Think Hire have seen sales grow substantially across many sectors as they have worked to keep sites supplied with the additional welfare facilities and other equipment needed to facilitate social distancing. They have also successfully adapted their remote management systems to continue to deliver 24-hour support for site infrastructure, without the need for direct attendance.
The company’s growth has been underpinned by a major expansion of their range of renewable, sustainable hire services to meet the demands of modern companies and environmental regulations. The company already lead the way in renewable energy battery systems, solar-hybrid power and solar lighting. The new investment will see ThinkHire expanding their range in renewable power, as well as adding new services, including waste and water management.
It was this combination of impressive growth and innovation that attracted the new investment, and the funds will be used to add both new depots and new product lines to the Think Hire business.
“The carbon neutral elements of the company were the main attraction,” explained Craig Ainscough. “We know there are many projects and businesses that share these environmental goals and who face stringent sustainability targets. This multi-million-pound finance package will ensure Think Hire is perfectly placed to support these companies.”
The investment will create new job opportunities across the business. “We have an ongoing recruitment drive starting right now,” said Neil. “This is an exciting time for Think Hire and we will be looking for the very best in the business to join our team and drive us forward.”
As part of the deal, Neil Richardson will be joining the three investors on the board Kensite Services as a non-executive director.