Lonsdale invests in Cross Rental Services

With Lonsdale's backing, Cross will focus on consolidating its position in the Irish market and growing in the UK, both organically and through bolt-on acquisitions. 

This is the seventh principal investment for Lonsdale since closing its first institutional fund on £110m in April 2016. During this time, the fund has made 11 bolt-on acquisitions, and partially exited superyacht servicing business GYG via a listing on AIM in 2017.

Company
Cross operates across Ireland and the UK and was founded in 2006 as a division of the wider Cross Group (design, installation and servicing of refrigeration and air conditioning equipment) before being carved out as a standalone entity. 

The company provides rental services to retail and commercial customers across two divisions; equipment-as-a-service, including rental of fridges, ovens and coffee equipment; and temperature control, including rental of heating and chilling units such as boilers, chillers and air conditioning units.

People
Cross Rental Services – Ken Keating (executive chairman).
Lonsdale Capital Partners – Ross Finegan (partner) .

Advisers 
Equity – KPMG Ireland (financial due diligence, tax); CMS (legal).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• Lonsdale Capital Partners
• United Kingdom