Mr Murray replaces Doug Fleming who has stepped down for personal reasons.

Mr Murray, a Chartered Accountant, is an experienced CFO with a strong track record in growing businesses, raising finance and successfully executing M&A transactions and integrations for large private and FTSE listed companies within the engineering and rental sectors.

His most recent roles include CFO of Algeco UK, a leading lessor of modular storage containers and site accommodation units and finance director of Loxam’s Powered Access Division. He also spent twelve years in various senior finance roles at ESAB, a global provider of fabrication technology, now listed on the NYSE.

OEG’s chief executive officer John Heiton said: “We are pleased to welcome Tom to the OEG team and look forward to benefitting from his relevant experience working in leadership roles at growth businesses in the wider rental and services industries, which are strongly complementary to OEG’s offering.

“He has a wealth of experience that will serve us well, including overseeing strategic M&A and integration which continues to be an important component of OEG’s growth strategy.

“On behalf of the board, I’d also like to thank Doug who is stepping down for personal reasons. In view of this, we have organised a fast but smooth transition to Tom.

“Doug has been instrumental in guiding OEG through a truly transformative year of growth, and leaves OEG in a strong position in terms of a healthy balance sheet with the firepower to advance our strategic growth ambitions.”