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Robert.Jervis_43227 Jun 27

Cleveland Containers to expand

cleveland containers
LDC invests in box company 
Cleveland Containers has secured a minority investment from private equity firm LDC to support the next stage of its growth plans.
 
Led by Johnathan and Jane Bulmer, Cleveland Containers specialises in the sale and hire of shipping containers and site accommodation units, operating from a network of 15 depots.
 
Revenues at the company, which employs more than 65 people, have more than trebled in the last four years from £18m in 2019 to £60m in the current year.
 
LDC is backing the existing management team to support their expansion plans and enhance the sales and rental offering, while also creating jobs and opportunities for existing employees.
 
As part of the strategy, Andrew Thompson, former Managing Director of Mobile Mini, has been appointed Chief Operating Officer.
 
Jon Hurford, former Finance Director at O'Brien Waste Recycling Solutions, has also joined the business as Chief Financial Officer alongside Richard Tredwin, former Chief Executive of SRL Traffic Systems, who has been appointed as Non-Executive Chair.
 
The investment was led by Gareth Marshall, Partner and head of LDC in the North East, and Investment Manager Naomi McDiarmid - both of whom will also join the board.
 
Managing Director Johnathan Bulmer said:

"I'm really proud of everyone at Cleveland Containers. The team has worked tirelessly to cement our market leading position and with LDC's support we are now in a position to strengthen our business further and welcome more people into our fun and fast-growing business.
 
"As soon as we met Gareth and Naomi at LDC, we knew that LDC was the right partner to support our growth plans. They have helped to bring in new experience and perspectives to our business, and it's a real benefit that their Newcastle office is only a short distance away. We feel well supported to continue our growth from our base here in the North East."
 
Gareth Marshall added:

"Johnathan, Jane and the team at Cleveland Containers' commitment to customer service has been key to their growth. As a result of their efforts and creativity, we're seeing an increasingly innovative use of containers across the UK. We're looking forward to helping the business to bring the right container, site accommodation and modular turnkey solutions to even more customers."
 
Cleveland Containers was advised by UNW and Womble Bond Dickinson. LDC was advised by Grant Thornton, Weightmans and Fairgrove Partners

Source: Insider Media