Hire firm in £9m sell-off deal

A platform hire business employing around 35 people in Cannock has been bought in a deal worth nearly £9million.

It will mean a bumper pay day for boss Leigh Farmer.

The Wolverhampton businessman founded Higher Platforms in the depths of the recession 15 years ago.

Originally based in Shareshill, Higher Platforms moved to a purpose-built headquarters at Platform House, on the Norton Canes Business Park in Cannock 10 years ago.

The company hires out platform lifts for building work, including scissor lifts, lifts on articulated and telescopic boom arms, and equipment mounted on the back of lorries. The idea originally came from the United States, where powered platforms are seen as a safer hi-tech alternative to scaffolding.

The firm operates a rental fleet of 435 machines across the UK through a network of four depots, one at the Cannock head office. Higher Platforms employs a total of 35 people, around 20 based at Cannock.

Last year Higher Platforms achieved a turnover of £4.6 million, pre-tax profits of £1.1 million and had gross assets of £6.8 million and net assets of £3.9 million.

It is being bought by Lavendon Group. It is understood Mr Farmer will stay on to run the business.

Lavendon is paying £7.6 million in cash for Higher Platforms, with an additional £1.3 million payable in August next year.