KKR Acquires Dawsongroup to Accelerate Strategy to Decarbonize Company Fleets
Alternative asset and private equity investor KKR announced today an agreement to acquire UK-based asset leasing business, with the transaction aimed at supporting the company’s growth and its strategy to help businesses transition their fleets to net zero.
The acquisition will be made as part of KKR’s Global Climate strategy. KKR launched the strategy in 2023 in its infrastructure unit, which the firm said marked an expansion on its focus on climate investing. KKR recently identified decarbonization, and the large scale “brown-to-green” transition of asset-heavy sectors in particular, as a key “mega-theme” driving investment opportunities.
Founded in 1935, Milton Keynes, UK-based Dawsongroup offers specialist asset rental services across the European logistics sector. Through its Smarter Asset Strategy, the company offers sustainable solutions across the supply chain, enabling companies to adapt to new technologies, and supporting businesses in the transition to net zero cost-effectively, through advice on alternative fuel and power sources, streamlining processes, and improving efficiencies to save energy and money.
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: “
“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. 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.”
KKR said that the transaction will enable Dawsongroup to deliver on the next stage of its development, as the company expands the markets that it serves throughout the supply chain, and that the partnership between the companies will help to significantly accelerate the decarbonization of vehicle and asset leasing solutions.
KKR will also work with Dawsongroup to implement an employee ownership programme, providing Dawsongroup employees with the opportunity to directly participate in the group’s future success.
Stephen Miller, CEO of Dawsongroup commented:
“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. 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.”