Catering rental company The Lowe Rental Group has completed its acquisition of the PKL Group (PKL).
PKL is a supplier of temporary kitchens and catering equipment for rental and sale. The combined group will have revenues in 2019/20 of over £50m, operating from 11 locations across the world.
Rodney Lowry, CEO of Lowe said: “We are delighted to welcome PKL into our high-performing group. With innovation and a customer-focused approach at our core, PKL is a perfect fit.
“There are excellent synergies between the companies such as our approach to customer service, our reputation as trusted brands, the quality of products we supply and the high calibre of the management teams.
“Both companies are delighted to have all formalities of the deal completed, clearing the way for our staff to start the business of building a collective powerhouse in the rental of refrigeration, catering equipment and temporary kitchens across the world.”
Commenting on the deal, PKL’s CEO Lee Vines said: “The acquisition of our business by Lowe is a very exciting and welcome step forward for all here at PKL.
“Having the backing of such a large, globally renowned company unlocks new significant growth potential in markets and geographies that historically would have been out of reach.
“The Lowe team also brings a wealth of refrigeration knowledge to the table and we are very enthusiastic about the prospect of providing a broader and highly compelling offering in the market.”