German asset manager DWS Group, majority owned by Deutsche Bank, has acquired an undisclosed stake in Flannery Plant Hire, the UK's largest operated heavy construction plant-hire company, as reported by the Irish Independent. The deal was announced on 29 June, with the Flannery family retaining a significant interest and joint CEOs Patrick and Martin Flannery remaining in their roles.

Flannery combines the lease of large-scale specialist construction machinery with the provision of skilled equipment operators to contractors working on major infrastructure projects. The company operates a fleet of more than 7,900 units across 16 depots in the UK and Ireland, serving programmes including High Speed 2, Hinkley Point C and regulated water and electricity grid investment programmes.

Flannery has invested £448 million in new equipment over the past four years, including £107 million in the most recent year, positioning it with one of the most modern heavy plant fleets in the UK market. The DWS investment is designed to support the next phase of expansion as Flannery deepens its position across the UK's growing infrastructure pipeline.

Patrick Flannery Junior, co-CEO of Flannery Plant Hire, said: "As we looked ahead to the next chapter, it was essential to find the right partner, one that shares our values, understands our long-term vision, and can provide the capital, expertise, and support required to accelerate future growth. By partnering with DWS, we are demonstrating our continued confidence in the business and our commitment to supporting its long-term success for many years to come."

Hamish Mackenzie, global head of Infrastructure at DWS, said Flannery serves a client base benefitting from growing demand for core infrastructure capital investment programmes in transport, energy and utilities in the UK, and that this demand also stems from energy transition and digitalisation trends requiring significant and multi-year capital spend.

DWS Group has operated for 70 years in asset management, is listed on the Frankfurt Stock Exchange, and manages approximately €1 trillion in assets globally. The Flannery stake represents one of its most direct investments in the UK construction and infrastructure supply chain to date.