London container business secures multi-million investment from capital clients
A London container business has had a £24m management buyout after significant investment from private investment clients.
Cargostore Worldwide Trading, which operates globally, had an initial management buyout three years ago, and plans to use the newest investment for its next growth phase.
£7.5m of the funding comes from clients of Connection Capital, a Yorkshire-based private client investment business.
Bernard Dale, head of private equity at Connection Capital, said: “This investment is an exciting addition to our portfolio and is the 15th management buyout that we have backed.”
“Cargostore is a market leader in a fast-growing niche offering attractive returns on capital, with significant room for further growth thanks both to the increasing emphasis on offshore wind power in global energy policy, and favourable regulatory drivers that play to its offering.”
“As a well-run, geographically diversified operator, it is in an excellent position to deliver on these opportunities, so we are delighted to ensure that the business has ample capital for capex-led growth.
“Overall, we consider that this asset-backed MBO investment provides very good returns potential as the company gains scale, while affording our clients portfolio diversification into overseas markets, but with UK-based leadership.
“Our intention is to support the further expansion with investment in specialist container assets across the globe.”
Do you want to sell more to businesses in your region? Get Bdaily Marketing's latest Media Pack now to see how we can help →