Tool hire firm sold for €6.5m

A WATERFORD couple are in line for a €6.5 million windfall after selling their tool and equipment hire business to a British company.

Eamonn and Eileen McKenna are the owners of Waterford Hire Services, which was yesterday sold to the London-listed Speedy Hire.

The McKennas will receive €5.2m in cash up front and up to 74,587 Speedy Hire shares, worth a further €1.3m, in February next year if Waterford Hire Services meets certain financial targets this year.