Lonsdale-backed CRSG acquires Acclimatise

The acquisition was supported by a mix of debt and shareholder funding including from Lonsdale.

The firm acquired a majority stake in CRSG in December 2018, drawing equity from its Lonsdale Capital Partners vehicle, which closed on £110m in 2016. The firm has drawn capital from the same fund for this acquisition.

CRS has two distinct divisions: equipment-as-a-service and temperature control, the latter of which is acquiring Acclimatise. In November 2019, the division also acquired more than 75% of Swegon Hire UK, another specialist heating and cooling products provider.

The company was acquired for its engineering team, as well as its hub in northern UK.

CSR is actively looking for further bolt-ons in both the heating and cooling hire space and the commercial refrigeration and catering hire space, according to a statement.

Company
Acclimatise is a HVAC rental company focused on chillers, heaters and air-conditioning equipment. It also works with public sector bodies on the provision of equipment, services and maintenance. Founded in 2005, the company is based in Stoke-on-Trent.

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• Lonsdale Capital Partners