Alliance Tool Hire South West has taken over Euro Tool Hire & Sales (South West) Ltd.
Euro Tool has three yards across Cornwall
Euro Tool's depots in Redruth, St Austell and Helston have now joined Alliance Tool's depot network of Truro and Penzance to create five locations across Cornwall.
Euro Tool's managing director Craig Williams, who had set up the business in 2006, turned 50 this year and was looking to pursue new opportunities. He instructed KBS Corporate on the sale of the business.
Alliance Tool Hire South West was set up 18 months ago by the directors of Alliance Tool Hire, which has eight depots across the south of England, from Ashford and London to Salisbury and Poole. Despite common ownership, Alliance Tool Hire South West is a separate company from Alliance Tool Hire.
An Alliance Tool Hire South West spokesperson said of the Euro Tool acquisition: "We believe this will enable us to look after our customers brilliantly everywhere in Cornwall.
"The combined hire fleets have over £3m of equipment, enabling us to service almost all the tool and plant needs of our customers in Cornwall.
"Euro's equipment fleet includes significant plant equipment from mini-diggers to larger diggers and dumpers, ensuring customers at all five branches can get what they need from us."
According to its latest account, Euro Tool Hire & Sales (South West) Ltd has 22 employees and £543,000 of tangible fixed assets.
Source: The Construction Index