LONDON, UK: Literacy Capital plc has completed a minority co-investment into Cross Rental Services (‘CRS’), a market leading provider of Refrigeration & Catering and Climate Control rental equipment.
Headquartered in Andover, with operations across the UK and Ireland, CRS serves blue-chip customers across a diverse range of end markets, including retail, manufacturing, and facilities management. CRS was sold to Elysian Capital in August 2021, and has made significant progress since then, including the acquisition of All Seasons Hire from HSS PLC, completed in September 2021.
The acquisition creates one of the market leading Climate Control rental providers in the UK alongside the already strong position held in the UK Refrigeration & Catering rental space.
Literacy Capital are investing alongside the pre-existing majority shareholder, Elysian Capital, as well as other co-investors, including Lonsdale Capital Partners and Nord Holding.
The transaction represents Literacy Capital’s eighteenth platform investment completed since the inception of the fund in September 2017, and its first since the fund was listed on the London Stock Exchange in June 2021. Literacy Capital has also supported its portfolio companies in completing six bolt-on acquisitions this calendar year.