Ownership and Leadership
Kennards Hire is a privately held company owned by the Kennard family, who have maintained control since its founding by Walter Kennard in 1948 as a rural supply and machinery business in Bathurst, New South Wales.[1] Following an amicable separation of family business interests in 1991, the equipment hire operations have been owned and operated by the branch of the family led by Andrew Kennard, Walter's son, ensuring continued family stewardship across generations.[1]
The company's leadership reflects its third-generation family involvement, with Angus Kennard, grandson of the founder, appointed as CEO in 2016 to guide strategic growth and innovation.[30] He stepped down in 2020, succeeded by non-family executive Bill Whitehouse, who led operations until April 2025 when he was replaced by Stuart Dean.[31][32] In November 2024, it was announced that Whitehouse would step down as CEO in April 2025, to be succeeded by Stuart Dean.[32] Key historical figures include Andrew Kennard, who drove significant expansion in the 1980s and 1990s, including national branch growth and industry positioning.[33] Current executive roles, such as the CFO position held by Maurice Chester, support initiatives like digital transformation to enhance operational efficiency.[34]
The board of directors maintains majority representation from family members, including Rory Kennard (appointed 2020) and Angus Kennard, to preserve core values while incorporating external expertise.[2] Independent directors were introduced for enhanced strategic oversight, beginning prominently in the early 2010s with appointments like Kirsty Kovacs (née Kennard) in 2011, followed by non-family members such as Brendan Fleiter in 2014.[2][35]
Governance has evolved through key milestones, including the formalization of a family trust structure in the mid-2000s to support long-term succession planning, and the adoption of ESG reporting standards in 2019 to align with sustainable business practices.[33] Recent developments feature Margie Haseltine as Chair since 2024 and Andrea Martens as a non-executive director, emphasizing diverse perspectives in family-owned governance.[35]
Financial Overview and Performance
Kennards Hire has demonstrated steady revenue growth over the past two decades, expanding from approximately $50 million in 2000 to around $628 million in sales revenue in 2023 (fiscal year ending June 2023).[36] This progression has been primarily driven by the hire division, which accounts for about 80% of total revenue, reflecting the company's core focus on equipment rental services across construction, industrial, and infrastructure sectors.[36]
Kennards Hire has prioritized financial discipline through family reinvestments, allowing for sustainable operations. This approach has supported long-term stability amid varying economic conditions.[37]
During the 2020 economic downturn triggered by COVID-19, Kennards Hire exhibited resilience through business diversification into essential services like emergency and infrastructure support, enabling a recovery with year-over-year sales revenue growth of 22% in 2022 and 19% in 2023.[36] This performance underscores the company's adaptive strategies in navigating market challenges while capitalizing on sector demand.[37]
Sustainability and Community Initiatives
Kennards Hire integrates environmental, social, and governance (ESG) principles into its operations through its "Geared for the Future" roadmap, which emphasizes measuring environmental impact, extending equipment life to minimize waste, fostering employee opportunities, supporting communities, and maintaining responsible business practices.[15] This framework builds on the company's history since 1948 of positive contributions to people, communities, and the environment, with a business model that maximizes equipment utilization to reduce resource consumption.[15]
In environmental sustainability, Kennards Hire collaborates with partners like Hilti Australia to advance circular economy practices in equipment hire. Through this Fleet Partner initiative, end-of-hire tools are assessed for reuse, refurbishment, or recycling, preventing landfill disposal; annually in Australia, this reuses up to 5,300 spare parts, diverting approximately 2.25 tonnes of electronics, motors, and rotors from waste.[9] Over five years, the partnership has enabled the recycling of nearly 17,500 kg of materials including steel, aluminum, and copper, while refurbished tools are donated to training institutions and NGOs such as Habitat for Humanity Australia.[9] These efforts align with industry trends, as 32% of construction leaders in Kennards Hire's 2024 Construction Confidence Check prioritized eco-friendly tools in their ESG strategies.[9]
The company's corporate social responsibility extends to community initiatives via the Kennards Hire Foundation, which receives 1% of operating profits and funds 16 non-profit partners focused on youth development and environmental conservation.[38] Established with a $7 million pledge in 2018, the Foundation provided over $1.2 million in support to community groups across Australia and New Zealand in 2017 alone, including financial aid, in-kind equipment donations, and capacity-building resources.[39] Notable programs include long-term partnerships with The Smith Family, supporting over 214 students through scholarships for vocational training and higher education since the 1990s, and BackTrack, which received more than $150,000 in in-kind donations plus 13 pieces of second-hand equipment in 2023 to aid youth reintegration.[38]
Community engagement also features disaster relief drives through the branch network and support for vulnerable groups, such as the Melbourne Indigenous Transition School (MITS), where Kennards Hire donated equipment for constructing boarding facilities and facilitated connections to construction firms, helping 13 Indigenous students complete Year 12 in 2024.[38] In New Zealand, initiatives like KidsCan provide essentials to over 550 children in poverty across multiple schools in 2024, with branches offering discounted equipment and volunteer expertise for maintenance projects under the Buddy School Program, benefiting more than 100 schools.[38] Employee volunteering is integral, with teams contributing to partner events, such as the annual Christmas Toy & Book Appeal for The Smith Family and hands-on school repairs, leveraging local branches for practical impact.[38] Additionally, programs like Springboard in New Zealand supported 49 young people aged 18-24 in FY24 with employment preparation, resulting in 54% securing jobs or further training.[38]