Prohire

Business Description

Prohire delivers fully outsourced solutions to commercial fleet operators throughout the UK and Irish markets, incorporating vehicle specification, procurement, funding and ongoing fleet management.

Background

Headquartered in Stoke-on-Trent with an additional office in Tunbridge Wells, Prohire specialises in complex, high dependency vehicles, delivering a bespoke solution with a focus on compliance, minimising maintenance spend and maximising vehicle and driver efficiency.

NorthEdge Investment Rationale

Prohire has delivered strong historic growth since it was established in 1997, positioning the business as a significant operator in the commercial vehicle contract hire sector.

Strategy

NorthEdge’s investment will allow Prohire to develop its customer-centric proposition, broaden its sales function and invest into the development of a technology platform. It will also support the company in its buy-and-build strategy as it looks to accelerate growth through targeted acquisitions which broaden the customer base and service capability.

The deal was led by NorthEdge Director Phil Frame and Investment Director Dan Matkin.

Phil Frame, Director at NorthEdge, said:“Prohire has grown rapidly in recent years and has already demonstrated its ability to acquire and integrate complementary businesses. We look forward to working closely with the team in delivering on their growth plan.

“The fleet management market continues to grow, underpinned by increasingly complex compliance requirements and technological developments. We believe Prohire is ideally placed to capitalise on this opportunity and the investment reflects our confidence in both the market and the management team.”

SectorBusiness Services
LocationStoke-on-Trent
Deal TypeMBO
Investment DateApril 2018
Employees75
NorthEdge Contacts Phil Frame