Ashtead might trace its roots back to the Surrey village of the same name but the tool hire group is no little Englander. Expansion in the US has boosted the FTSE 100 constituent’s market value more than threefold over the past five years.
Amid creaking supply chains, that scale should serve it well. The return of live events and restart of construction projects has reinvigorated demand for heavy duty equipment after the pandemic-induced slump. Revenue for the first quarter was not only more than a fifth higher than a comparable last year, but also 14 per cent ahead of the pre-pandemic level.
It will not be a shock that there is a shortage of tools. The result? It can charge customers higher rates to
