Hire company GAP to spend £100m on new equipment in 2015/16 financial year

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GAP Group will spend a record high on new equipment in the 2015/16 financial year to help the hire company have the youngest fleet in the industry.

The company will spend £100 million on equipment – an increase of 25% on the previous 12 months.

GAP Hire Solutions comprises of eight divisions that will each see the allocation of brand new equipment.

This includes almost £40m of unmanned plant such as dumpers, excavators and rollers, £6m on transport and £21m on tools for a new chain of tool hire depots opening in the London area from April onwards.

GAP Welfare Services will benefit from a £15m injection into new equipment including their popular eco welfare units. GAP Event Services, Lifting Hire & Sales, Non-Mechanical Plant and Survey & Safety Hire will benefit from the other £18m available. 

Ken Stewart, procurement manager at GAP, says: “We have always pledged to invest at least 50% of our annual turnover on new equipment and this record amount of capital expenditure will ensure that our valued customers benefit from hiring the youngest equipment in the industry.

“We have worked closely with our suppliers to ensure equipment is available throughout our depot network from April onwards.

“We’re experiencing continuing high utilisation and its imperative that we deliver the right equipment to our customers on site and on time. This record investment will ensure we can continue to do this.’ 

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