INVESTMENT management company Smedvig Capital has increased its shareholding in contract hire and leasing specialist Tuskerdirect.

The company has increased its holding from 49% to 93%, having taken up the opportunity of buying out the other institutional shareholders.

Rob Toms, Smedvig Capital managing director and Tuskerdirect chairman, said: ‘We had the chance to buy out a large and varied group of shareholders and took it because Tusker has an exciting future ahead of it. There has been strong growth since the launch in 2000.’