£10m investment for Watkins Hire
WATKINS Hire, which has a base in Walsall, has secured a £10.1m investment from London private equity firm Baird Capital.
Watkins is a provider of industrial and commercial heating and cooling equipment rental services.
Founded in 1998, Watkins supplies heaters, steam and water boilers, air handlers and chillers to a wide variety of blue chip clients.
The Gloucestershire-headquartered company also has a dedicated events division, providing equipment for rental at events, including the 2012 London Olympics.
Watkins will use the funding to expand its rental fleet to support business growth and to invest in its engineering, operational and service infrastructure.
Baird Capital is planning to leverage its international network and global industrial sector expertise to help Watkins expand its customer base.
As part of the transaction, Baird Capital is backing experienced executive Paul O’Kelly to lead Watkins as CEO. Baird Capital managing directors Andrew Ferguson and James Benfield will join Watkins’ board as will operating partner David Barrass as chairman.
