LDC backing shipping container company named Deal of the Month | North East Deals News | Insider Media

2022-07-23 01:23:24 By : Ms. Lily Li

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A Stockton-on-Tees-headquartered supplier of shipping containers securing a minority investment from private equity firm LDC has been named Insider's Deal of the Month for June.

Led by husband-and-wife Johnathan and Jane Bulmer, Cleveland Containers specialises in the sale and hire of shipping containers and site accommodation units, operating from a network of 15 depots.

Revenues at the company, which employs more than 65 people, have more than trebled in the last four years from £18m in 2019 to £60m in the current year.

LDC is backing the existing management team to support their expansion plans and enhance the sales and rental offering, while also creating jobs and opportunities for existing employees.

As part of the strategy, Andrew Thompson, former managing director of portable site accommodation and storage container rental provider Mobile Mini, has been appointed chief operating officer.

Jon Hurford, former finance director at O'Brien Waste Recycling Solutions, has also joined the business as chief financial officer alongside Richard Tredwin, former chief executive of SRL Traffic Systems, who 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.

Speaking when the investment was announced, managing director Johnathan Bulmer, 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."

Grant Thornton provided corporate finance advice (Jim Whittaker, John Whitney, Ben Brydges and Usman Malik), financial modelling (Jake Troughear) and financial and tax due diligence services (Dan Rosinke, Declan Ramsey, Karan Kanuga, Jonny Bedford) to LDC.

Legal advice was provided by Weightmans (Duncan Reid, Paul Wigham, Michael Murphy).  KPMG provided tax advice to LDC (Bradley Keast, James Lavelle).  Fairgrove Partners provided commercial due diligence (Oli Lestner, Patrick Woodrow).

Legal advice to the shareholders of Cleveland Containers was provided by Womble Bond Dickinson (Robert Phillips, James Cook, David Ridley).  Corporate finance and tax advice was provided by UNW (Paul Mankin, Katy Lamb, Jacob Bunn, David Ward).

Alice Bird, Digital Staff Writer T: 0161 907 9731 E: alice.bird@newsco.com

Tom Allport, Business Development Manager T: 07377 664841 E: tom.allport@newsco.com

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