Hydrex was acquired by Bridgepoint Development Capital in 2002. It is a UK specialist hirer of mobile equipment and skilled operators to the rail, industrial and construction markets where it enjoyed leading market positions.
Specialist hire was already familiar to Bridgepoint through its investment in Longville Group. Pursuing a 'buy and build' strategy, Hydrex consolidated its market position during 2004 with the acquisition of Scottish hire group Lindsay for £8.5 million and Southern based Hughes for £6 million. Both acquisitions were funded by Bridgepoint.
In March 2006 Hydrex was acquired by Quilvest and Shaoibi Group resulting in Bridgepoint achieving a 3x money multiple.