A recent rebranding process and a management buyout that was concluded at the end of last year has given Eagle Plant Hire fresh impetus, as the plant and tool hire company, which is based in the Central Belt of Scotland, looks to build further on over 30 years of history.
“The business was set up in 1992 by George Deakin and John McGinn before undergoing several changes of ownership over the following years, explains current Managing Director, John Cummings, who was previously a Divisional Managing Director of Speedy Hire. “Around five years ago I was working with the then owner of Eagle Plant Hire, Colin Inglis, helping him to grow and develop the company. Around this time my son, Leigh, along with Douglas Smeaton and Iain MacDonald, who had all previously worked at Speedy Hire on the sales and operation sides, were interested in starting up a hire business. Rather than starting from scratch, I suggested to Colin Inglis that it might be beneficial to open up some shareholding to help drive the business forward. This led to us collectively buying 25% equity in the company.”
John and the senior team, including Gary Reynolds and John Monaghan, who were already with Eagle, developed a new five-year plan, with the aim of increasing turnover from £1m to £5m. As part of this strategy, a site in Edinburgh was added to the original depot in Glasgow, with the size of the workforce increasing to 40-plus employees.
“The creation of the Edinburgh depot has been a great success, as it services quite a different market to the Glasgow operation, but with the added benefit of utility clients,” adds John. “Whereas Glasgow is very much focused on heavy plant and utilities, Edinburgh is much more of a clean trades business. As the two depots are slightly different to each other, reflecting the contrasting needs of each city, this has led to a broadening of our product range to help us cater for the requirements of our customers. We now have a fleet of over 100 excavators that are able to service the utilities, site works and groundworks sectors.”
While it primarily operates within the Central Belt of Scotland, Eagle Plant Hire has ventured as far north as Aberdeen and Inverness when required. “We will support our main customers wherever they go if they’re prepared to give us the business. They trust us because of our track record and the fact that our service is of the highest standard. We really pride ourselves on the quality of our service.”
With Colin Inglis and his family deciding they wanted to sell the Eagle Plant Hire business outright, on 1 December 2023 John and the rest of the shareholders completed an MBO to take full control of the company. “I spent about six months of last year putting together the management buyout and getting it over the line. Colin still works within the organisation in a sales capacity but other than that, we continue to restructure our business.”
To help finance the ambitious plans that the new management team put in place, Eagle Plant Hire agreed to sell the majority of its fleet of Kubota excavators to JCB, with the machines being replaced by newer JCB models. “Our fleet of Kubota diggers were in excellent condition, so we were able to command a very good price from JCB for them. We were then able to use this money to significantly update our fleet and cherry pick the best machines for our needs, including a new fleet of rollers and dumpers, as well as an extensive excavator fleet ranging from micros up to the nine-ton unit that JCB provides. It was a very favourable and satisfying deal for Eagle and Scot JCB.”
As well as having a modern range of machinery, Eagle Plant Hire also carries out regular planned maintenance, utilising the skills of around a dozen mechanical fitters and service engineers. Four permanent vans on the road also provide servicing when required.
“Looking after our own maintenance helps us to support our existing client base, in turn allowing us to offer far greater service than some of the other hire companies,” adds Douglas the Commercial Director. “We’re highly proactive in ensuring that the fleet is both very efficient and reliable.”
With a high-quality fleet of machines and a well-developed presence in both Glasgow and Edinburgh, Eagle Plant Hire is now looking to make the most of its well-rounded offering in the months ahead. “In addition to having Colin on the sales side, we’ve also taken on a new sales manager, as we strive to move into other markets, particularly now that the MBO is done and dusted. We’ve been very open with our customers as to what our plans are and we’re keen to take them on the journey with us.”
“Following a record-breaking year for us in 2023, the market has stabilised in recent months,” says Douglas “I wouldn’t say there’s any super growth opportunities available right now, as there’s still a high degree of uncertainty due to the interest rate rises over the period of some months. There is definitely light at the end of the tunnel, however, especially with the housing market kicking back in again. From April onwards I envisage a significant market upturn.”
This continuation along an upward trajectory mirrors a year-on-year growth pattern that Eagle Plant Hire has enjoyed since 2018. So, what’s been the key to this progression?
“Ultimately it’s been all about maintaining high levels of service and trust,” outlines John. “Continual investment in the fleet has been crucial in terms of providing excellent reliability, and this has also been backed up by a strong workforce. This has been achieved via ongoing training and excellent technical support from JCB, who have bases in Glasgow and Edinburgh, which also makes it much easier for us to source spare parts and service.
“Another significant feather in our cap is the amount of knowledge we have within the board of directors. We must have over 300 years’ of plant hire industry experience between us…joking of course, but that level of knowledge counts for an awful lot as there’s not much we haven’t seen, over the years.”
With all this know-how in place and with a market-leading fleet of plant at its disposal, Eagle Plant Hire is well positioned to keep moving forward and will make the most of the opportunities that continue to come its way. “There’s definitely more optimism around as we move into spring and the signs are that business leads are increasing. We’re extremely comfortable with the position we’re in now, but we’re also always looking for the next opportunity to grow and expand. We never stand still as a business and we currently have some irons in the fire, although we can’t say too much about these just yet.”
“At the end of the day, our aim is to be a one-stop shop for our customers and to provide whatever they require from under a single roof,” highlights Douglas. “This makes everything so much easier for the customer to manage, as they don’t have to go to a number of different providers, and ensures they keep coming back for more. It’s all about simplifying the process for the customers as much as possible.”
As befits such a forward-thinking company, Eagle Plant Hire has also been keen to do its bit from a sustainable perspective, having invested in five Tesla cars, and is continually gauging demand from its customers for electric-powered machinery. In-line with its company rebrand, which saw the creation of a new logo, it is also revamping its website.
As it enters a new era following what is an already impressive history, it is clear that Eagle has plenty to be positive about moving forward.