Completed sale
AM Hire
Led by Associate Director Sara Manville, Knightsbridge has completed the sale of Vastale Engineering, trading as AM Hire, a long-established vehicle hire business operating across the North East.
Founded in 1983 by Stephen Chambers, the business operates from Newcastle, with a second site in Sunderland opened in 2010. It has built its position over several decades, operating a fleet of more than 100 vehicles available for self-drive hire.
Its offering spans cars, vans and minibuses, supporting a broad mix of commercial clients, public-sector organisations and private individuals, with a high level of repeat business underpinning day-to-day activity.
The business offers flexible hire periods, from short-term use through to longer rentals, with all vehicles prepared prior to collection. It also generates additional revenue through the sale of ex-rental vehicles.
AM Hire was brought to market as part of retirement planning, with the process generating strong engagement, including 15 meetings and five offers. A highly substantial outcome was ultimately secured, aligning with the shareholder’s objectives.
The buyer, Manchester-based TSP Ka Hire, trading as TSP Vehicle Solutions, brings over 25 years’ experience within the vehicle hire sector. The acquisition reflects its strategy to grow through the addition of established operators, strengthening its presence and expanding its group offering.
The transaction brings AM Hire into new ownership focused on continuity and development, following a period that required a measured and considered approach to achieve the right result.
The Knightsbridge team wishes Jean a well-earned retirement, and every success to AM Hire and TSP Vehicle Solutions as the business continues under its new ownership.