Posted on Wednesday 14 March 2018 by John Mulgrew
A London investment firm has taken on a majority stake in a Northern Ireland refrigeration business in a deal worth £60m.
Perwyn LLP has completed has acquired a majority share in the Lowe Rental Group, based outside Lisburn.
Rodney Lowry, managing director of Lowe, said: “We at Lowe are really thrilled about the future and partnership with Perwyn Capital, Perwyn are a very specialist private equity firm that focus on fast growing companies.
“Their evergreen investment approach will be a strong fit with the dynamics of our global business. Lowe Rental is an extremely well diversified service business operating from strategic centre locations throughout Europe, Middle East, Eastern Asia and the Americas.
“In 2017 the company was active in 41 countries and traded with 142 nationalities from the food production, food retail, catering, event and exhibition industries. We couldn’t have entered a partnership such as this at a better time in the evolution of this business”.
Andrew Wynn and Mark Blower of Perwyn, said: "We are delighted to be partnering with Rodney Lowry and the executive team at Lowe to support their continuing growth strategy.
“We have reviewed several investment opportunities in the sector over the last year, but when we were introduced to Lowe we were particularly attracted by its track record of international growth and high quality asset base.
“This coupled with a reputation for outstanding customer service and innovation are attributes its customers really appreciate and make it stand out.”