Wed, 26 Nov 2025 | BUSINESS SALE
A plant hire business headquartered in Essex has been acquired by a listed international worksite access company in a deal worth £35.2 million. Grassform Plant Hire specialises in the supply and installation of trackway access roads, temporary roadways and site compound areas.
The company has bases in Ingatestone, Essex and Worksop, Nottinghamshire and has a fleet of more than 20,000 composite mats. In the year to October 31 2025, it reported revenue of £15 million and EBITDA of £6 million, with the transaction representing approximately a 5.8x EBITDA multiple.
Grassform Plant Hire has now been acquired by NPK International, a temporary worksite access solutions company that manufactures, sells and rents recyclable composite matting products, in addition to providing planning, logistics and site restoration services.
The Texas-based firm is listed on the New York Stock Exchange and operates primarily in the US and UK and across critical infrastructure industries including renewable energy, electrical transmission and distribution, construction and oil and gas exploration.
NPK International President and Chief Executive Matthew Lanigan said the company was confident that the acquisition of Grassform Plant Hire would “meaningfully strengthen our UK operations through scale and the addition of a highly tenured and talented team.”
He continued: "The acquisition significantly expands our market coverage and is highly complementary to our existing UK operations. The transaction is aligned with our growth strategy, which prioritises scaling our high return rental business through geographic expansion and market share growth within our core rental and service offering.”
Lanigan said that NPK International was targeting opportunities in the UK market, which is “supported by a robust outlook for infrastructure investments over the next several years.”
He added: "Further, with limited debt following the transaction, we remain well positioned to continue executing on our disciplined capital allocation strategy, which prioritises investment in organic growth and strategic inorganic opportunities, balanced with the programmatic return of capital."
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