RENTAL company TLS is to buy Middlesex-based short and medium term HGV, LCV and trailer rental company Commercial Recovery & Repairs for £6.8 million.

The proposed acquisition was announced this week alongside record interim TLS results for the six months to June 30, 1996 which saw pre-tax profits up 32% to £2.4 million (1995: £1.8 million) on turnover up 34% to £23.8 million (1995: £17.7 million).

TLS is to pay £3.8 million initially and up to a further £3 million may be payable on the acquisition of CRR dependent upon audited results up to December 31, 1998. The company operates more than 400 commercial vehicles and trailers mainly in the 3.5 to 38 tonne range. TLS's car and commercial fleet size grew by 37% to 7,067 in the first half of 1996 (1995: 5,177) and by the end of last month had further increased to 7,361 units.