Private equity group invests £2.35 million into Scottish shipping container hire company

RF Brown was founded in 1987, with the company acquiring and repurposing used shipping containers that are then hired out long term or sold to commercial customers.

It has developed a profitable operating model and robust customer base that has created an opportunity for a management buy-in team to take the business through its next stage of growth.

The company’s husband and wife founders, Bobby and Janette Brown, have now sold all their stakes in the business.

The pandemic and Brexit has led to a demand in short-term flexible storage solutions, helping increase its market share.

Foresight’s investment supports the management buy-in, led by the incoming managing director Angus Barraclough, who has 20 years experience in the equipment and plant hire sector.

Barraclough was previously part of the team that spun-out Brandon Hire Group from Wolseley. He will be supported by Ken Lewandowski, who joins as non-executive chairman.

Lewandowski was previously a non-executive director at Jarvie Plant Hire, growing the business from a small Scottish firm to a multi-site operation trading across the UK.

Barraclough said: “This is a great family run company that has been highly successful in developing a profitable, sustainable business supplying customers from retail, infrastructure, building services and construction sectors.”

Bobby and Janette Brown commented: “The business has been our life’s work for the last 30 years and it was important we left the business in good hands. We were impressed with Barraclough’s professional approach, experience and plans to grow the business.”

Graeme Mckinstry, investment manager at Foresight, added: “We have been impressed by the strong track record of profitable growth demonstrated by the company and look forward to supporting the company as it seeks to increase market share substantially.”

Source: Insider