£35 million deal for high-profile accommodation provider

A PROVIDER of temporary accommodation at high-profile sites such as the London Olympics and Crossrail has been sold in a deal worth £35 million.

Tool rental firm Speedy Hire said the business, which made an estimated loss of 4.5 million in the year to last month, was being bought by rival Elliott, the UK arm of North American modular building supplier Algeco Scotsman.

Speedy has also entered into a three-year partnership with Elliott under which the companies will make their products and services available to each other's customers.