KKR, the global investment firm which also owns Zenobe, has reached a binding agreement to acquire Dawsongroup, a Milton Keynes-based asset leasing company. The acquisition will be made through KKR’s Global Climate strategy division, which focuses on net-zero solutions and decarbonisation.
Dawsongroup, founded in 1935, employs over 1,150 people across 11 countries and specialises in vehicle and refrigerated box leasing. The company reported EBITDA of approximately £250 million last year. The Dawson family has maintained control of the business for more than 90 years.
Under the new ownership, KKR plans to implement an employee ownership programme and accelerate the company’s fleet electrification efforts. The deal aligns with KKR’s broader investment strategy in sustainable infrastructure, with the firm having invested more than $21 billion in the renewable energy and climate-related sector through its infrastructure platform.
Stephen Miller, CEO of Dawsongroup, commented on the acquisition: “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.”
Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, stated: “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.”
The transaction remains subject to regulatory approvals. Financial terms of the deal were not disclosed.
