We are pleased to announce that Hirepool's purchase of HireQuip is now complete.

In a nutshell, this purchase will allow us to better service our customers while adding tangible value to the products and services we provide.

At settlement, it is very much business as usual with both Hirepool and Hirequip continuing to operate under their own names in the near term, however that is likely to change further down the track.

We are looking forward to significant upsides from this purchase, and the newly-created business will be targeting a range of growth opportunities nationwide.

With our New Zealand-wide footprint, we will be providing greater nationwide capabilities, a 'best in class' fleet and the most experienced staff in the industry.

We will also be making a significant investment in updating assets and expanding our product range.

We will, of course, keep all of our customers well informed of any developments and key initiatives over the coming months.

Thank you for your ongoing support and we look forward to continuing to work with you all now and into the future.