Race for space
11 March 2021
The demand for storage facilities shows no signs of diminishing, for purposes such as providing a secure temporary place for office furniture that has to be removed for social distancing requirements, or retailers needing space to accommodate increased stocks for online deliveries.
Further evidence of the market’s strength is shown by a £2.35m investment by Foresight Group, an infrastructure and private equity investment manager, into RF Brown Limited, a shipping container hire, container sales and self-storage business.
RF Brown was founded in 1987 and is based on the outskirts of Glasgow. The company typically acquires and re-purposes used shipping containers that are then hired out long-term or sold to commercial customers.
The management buy-in team aims to take the business through its next phase of growth, with demand for short term flexible storage solutions increasing due to Covid-19 and Brexit challenges.
Incoming managing director, Angus Barraclough, has spent 20 years working in the equipment and plant hire sector, having previously been part of the team that spun-out Brandon Hire Group from Wolseley plc.
He will be supported by Ken Lewandowski who joins as non-executive chairman and was previously a non-executive director at Jarvie Plant Hire.
Angus Barraclough said: “This is a great family run company that has been highly successful in developing a profitable, sustainable business supplying customers from retail, infrastructure, building services and construction sectors. I look forward to working with the existing team to continue to successfully grow the business in the future.”
Reflecting on the sale, Bobby and Janette Brown, the vendors, said: “The business has been our life’s work for the last 30 years and it was important we left it in good hands. We were impressed with Angus Barraclough’s professional approach, experience and plans to grow the business. We are looking forward to working with him through the transition phase and wish him all the best for the future.”
