KKR takes majority share in asset leasing business
KKR has acquired a majority share of independent asset leasing business Dawsongroup.
The purchase has been made as part of KKR’s global climate strategy, which aims to scale net-zero solutions and decarbonise higher emitting assets. This goal closely aligns with Dawsongroup’s long-term sustainability-led plans.
Dawsongroup is based in Milton Keynes and provides a number of assets to its clients, from trucks to cold storage. It employs more than 1,150 people across 11 countries. Its smarter asset strategy enables businesses to cost-effectively transition to net zero.
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Last year, Dawsongroup posted a record performance with group EBITDA of around £250m. Under its new ownership, management intends to build on this strong platform to expand the markets it serves throughout the entire supply chain.
“KKR’s support will accelerate the launch of our sustainable growth strategy by continuing to deliver market-leading services for our customers in the UK, maintaining our EBITDA margin profile and providing a real opportunity to expand our unique offering internationally,” said Stephen Miller, chief executive of Dawsongroup.
“We are delighted to have the backing of KKR as we enter the next phase of our development and effectively contribute to our customers’ transition to zero emissions.”
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“As one of the largest independent lessors of vehicles and temperature controlled solutions in the UK, Dawsongroup is a key player in the decarbonisation of mobility,” added Vincent Policard, partner and co-head of European infrastructure at KKR.
“We see a significant opportunity to accelerate the electrification of Dawsongroup’s fleet, in support of the Dawsongroup management team’s focus on sustainable solutions, and aligned with KKR’s commitment to advancing the transition to a low-carbon future.
“By deploying our global expertise and network, we will help Dawsongroup drive sustainable growth, expand into new geographies, and contribute to the broader shift toward cleaner, more resilient infrastructure.”
Dawsongroup has been owned and run by the Dawson family for 90 years. Speaking on behalf of the Dawson family, Freya Dawson said that she was extremely proud of the group’s achievements to date and highly supportive of the strategic partnership with KKR.
“With the Dawson family’s backing and long-standing support from employees, the Group has evolved into the innovative asset leasing platform it is today,” she said.
“Combining Dawsongroup’s highly experienced management team with the knowledge and experience of the KKR team, we believe the impressive trajectory achieved to date can accelerate even further and we look forward to its future success.”
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