The Lowe Rental Group has completed the acquisition of the PKL Group, a supplier of temporary kitchens and catering equipment for rental and sale.
This deal is intended to further strengthen Lowe’s position in the rental of refrigeration, catering equipment and temporary kitchens.
Founded in 1988 and employing c.100 staff at its base in Cheltenham, PKL supplies temporary and permanent catering infrastructure to a diverse range of end markets, delivered in many forms such as modular kitchens, food kiosks and the hire of commercial catering equipment.
PKL has developed and delivered solutions for major events such as the Olympics and Commonwealth Games.
The acquisition should support Lowe’s plans for growth and adds expertise in the catering space, complimenting Lowe’s experience in refrigeration supply. The combined group will have revenues in 2019/20 of over £50m and will operate 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.”
While PKL’s CEO Lee Vines added: “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.”