AROUND 50 jobs have been saved at a Somerset firm after a sale was agreed.

Miles Needham, Andrew Sheridan and Simon Carvill-Biggs of specialist business advisory firm FRP have completed the sale of YHC Hire Solutions (YHC Hire).

The independent, family-owned business, which had five depots across the South West, specialised in tool and plant hire for both commercial trade and DIY markets.

It was headquartered in Yeovil and had been in operation for more than 30 years and was also a key training supplier to the construction industry locally.

FRP said the trio were appointed Joint Administrators of YHC Hire on October 29 after the business experienced sustained cashflow issues.

They facilitated a pre-pack sale of the business to the newly formed Purple Hire Solutions Ltd, which saw all staff transfer to the new business.

Miles Needham, joint administrator and partner at FRP, said: “The cashflow issues YHC Hire faced, despite positive and consistent turnover, highlighted the need for the business to be sold and for additional capital to be invested.

"We wish Purple Hire Solutions every success in taking the business forward while providing a positive outcome for its employees."