Around £50m will be injected into its core fleet offering, which promises next day delivery on its 30 most hired plant and access machines.

The remainder will be invested in new hub depots in Bedford and west London, and upgrading its delivery fleet with 20 new lorries.

Hewden’s growth plan is being rolled out just three and a half years after turnaround specialist Sun European Partners bought the ailing business from Caterpillar dealer Finning for £110m.

After several years operating at a loss Hewden is expected to break even this year returning to profit next year, the first time it has been in the black for seven years.

Hewden CEO Kevin Parkes said: “The recovery plan is complete. Now is the time to invest and grow Hewden.

“The announcement today of some £61m demonstrates a confidence in the market and a commitment to customers that at Hewden we have the kit customers want, where they want it, when they want it.”

Much of the rise in demand is driven by Hewden’s promise to refund customers £100 if they do not receive next day delivery on the most hired pieces of kit.

Its core plant guarantee was launched in February this year. So far after 20,363 deliveries, just 300 triggered a payout, with more than half these down to transport delays.

The hirer’s first major order for £25m has been signed with dealer Finning for more than 450 Caterpillar telehandlers.

Hewden is committing a further £10m of Core Fleet investment in excavators and dumpers with a further £7m being spent on powered access.

It also plans to spent £9m refreshing the crane fleet and will seal a deal within weeks reinforcing its position as the second largest crane operator.

In response to increased demand for standard accommodation and on-site welfare units Hewden also plans to establish four new specialist hubs, the first in Leeds is now fully operational.