Dynamic Equity backs $ 4 million for HSS Rental Stores

A tool rental business has powered up its expansion with a $4 million  infusion from a venture capital company and an investor. David Jackson completed a Management Buy-In last week for the Caribbean territory for HSS. As a result Jackson is now the largest shareholder and new Managing Director of the HSS franchise company in Trinidad. Financing for the buy-in was provided by Jackson personally and by Dynamic Equity. Jackson previously worked ten years with HSS Hire Service Group Plc, the last five as International Operations Man-ager. He was Regional Manager in the UK and France and helped to set up and develop new franchises in the Netherlands, Greece, Italy and Trinidad. At the signing of the buy-in agreement he said: “I have always believed that the tool rental business is particularly suited to developing island economies such as those in the Caribbean. I have now put my money where my mouth is and I intend to rapidly expand our business. First in Trinidad and later in the other islands. We will achieve this by offering customers a first class service, an unrivalled range of products and services and premier store locations. Everything you would expect from an international market leader.”

Jelle Sjoerdsma, Managing Director of Dynamic Equity, said: “We are always looking for businesses that can grow fast. We got in touch with David and were impressed by his dedication, experience and passion for the rental business. We are happy to support his management buy-in now and we expect to continue investing in the expansion of the company.” The HSS business in Trinidad started in 2000 with the opening of the first Rental Store in Port of Spain by local entrepreneur and rental enthusiast Stephen Cadiz. Cadiz remains a shareholder and will continue with the business as non-executive Chair-man. HSS is the largest tool rental company in the world. Starting with one store in London in 1957 it now has a global network of over 600 outlets. The biggest chains are in the UK and USA. The USA business, HSS RentX, is present in 14 states and continues to expand. HSS offers a broad range of tools and equipment to contractors and home improvers. Dynamic Equity is a venture capital firm in Trinidad and Tobago that currently manages $35 million in private equity funds. Its emphasis is to make investments that support growth and expansion at medium-sized private companies.