Baird Capital has sold its portfolio company Watkins Hire to Carrier Rental Systems (UK).
The terms of the transaction have not been disclosed.
Founded in 1998, Watkins is a provider of industrial and commercial heating and cooling equipment rental services. Watkins supplies heaters, steam and water boilers, fuel tanks, dehumidifiers, air handlers, air conditioning and chillers to a wide variety of blue chip clients. The company also has a dedicated events division, providing equipment rental at UK and international major events, including the 2012 London Olympics.
Headquartered in Lydney, Watkins has four depots dedicated to serving its customers across the UK.
The business was acquired by Baird Capital in 2013, in a management buy-in, led by chief executive officer Paul O’Kelly.
James Benfield, partner for Baird Capital, says: “It has been a great experience working with the Watkins management team and developing the company into an industry leading temperature control solutions provider. We have made considerable investment in Watkins’ operations and fleet over the course of our ownership, and leave the company with a strong team and well positioned for continued growth.”
Baird Capital and Watkins Hire were advised by Phillip McCreanor from Lincoln International and Catherine Eley from Eversheds.
