News
LDC invests in Cleveland Containers
27 Jun 2022
Cleveland Containers, the UK’s leading supplier of shipping containers, has secured a minority investment from leading mid-market private equity firm LDC to support the next stage of its growth journey.
Headquartered in Stockton-on-Tees, Cleveland Containers is led by husband-and-wife Johnathan and Jane Bulmer. It specialises in the sale and hire of shipping containers and site accommodation units. The company supplies over 4,500 customers including national housebuilders, construction firms, high street retailers and individuals.
Ranging from 6ft to 45ft in size, Cleveland Containers’ new and used shipping containers are supplied for multiple applications, including everything from storage units to office space and street food vendors to site canteens. This includes delivering bespoke container conversions for projects such as the popular food and drink venue STACK Seaburn in Sunderland, as well as containers for theme park resorts Gulliver’s Valley in Rotherham and the Peak District’s Gulliver’s Kingdom. The business has a network of 15 depots and currently delivers more than 400 containers a week to its customers across the UK.
Cleveland Containers is a market leader in its sector and has grown quickly, with revenues more than trebling in the last four years from £18m in 2019 to £60m in the current year. The business currently employs more than 65 people.
LDC is backing the existing management team to support their growth plan and further enhance Cleveland Containers’ sales and rental offering, while also creating career opportunities for new and existing employees.
To support the next stage of its journey, Andrew Thompson, former Managing Director of portable site accommodation and storage container rental provider Mobile Mini, has been appointed as Chief Operating Officer. Jon Hurford, former Finance Director at O’Brien Waste Recycling Solutions, has also joined the business as Chief Financial Officer and Richard Tredwin, former CEO of SRL Traffic Systems, has been appointed as Non-Executive Chair.
The investment was led by Gareth Marshall, Partner and Head of LDC in the North East, and Investment Manager Naomi McDiarmid, both of whom will also join the board.
Johnathan Bulmer, Managing Director of Cleveland Containers, said: “I’m really proud of everyone at Cleveland Containers. The team has worked tirelessly to cement our market leading position and with LDC’s support we are now in a position to strengthen our business further and welcome more people into our fun and fast-growing business.”
As soon as we met Gareth and Naomi at LDC, we knew that LDC was the right partner to support our growth plans. They have helped to bring in new experience and perspectives to our business, and it’s a real benefit that their Newcastle office is only a short distance away. We feel well supported to continue our growth from our base here in the North East.”
Gareth Marshall, Partner and Head of LDC in the North East, added: “Johnathan, Jane and the team at Cleveland Containers’ commitment to customer service has been key to their growth. As a result of their efforts and creativity, we’re seeing an increasingly innovative use of containers across the UK. We’re looking forward to helping the business to bring the right container, site accommodation and modular turnkey solutions to even more customers.”
LDC has a strong heritage of supporting the growth of businesses within the logistics and warehousing sector. The private equity firm has successfully backed the nationwide growth plans of independent home delivery company Panther Logistics, including creating 300 new jobs and tripling profits, and supported pallet distribution services provider The Pallet Network (TPN) for ten years – helping the business to treble revenue, open new sites and make complementary acquisitions in the process.
Cleveland Containers was advised by UNW and Womble Bond Dickinson.
LDC was advised by Grant Thornton, Weightmans and Fairgrove Partners.