Elysian Capital has announced the acquisition and investment in Cross Rental Services from Lonsdale Capital Partners.
It is Elysian's second investment in the Irish market since backing the management team of Mergon Group, based in Westmeath in 2019, and is the third investment in the past month from the Elysian Capital III LP Fund, which closed in September 2020 at £325million. Deloitte acted as lead financial advisor to Elysian on this transaction.
The transaction also marks the return of Laura McCoy to Elysian Capital, and the establishment of Elysian’s Irish office which is focused on partnering with entrepreneurial management teams in businesses across Ireland to provide support and investment on the next phase of their growth journey.
Cross Rental Services is headquartered in Dublin and provides specialist, mission critical cooling and heating equipment and services on a rental basis to a variety of end markets across both Ireland and the UK.
Led by CEO Graeme Nesbitt, the business has grown strongly in recent years, including throughout the pandemic, and has established a significant UK platform for growth. Cross Rental Services is now embarking on a new expansion phase, supported by Elysian, with ambitious plans to accelerate its market penetration across all divisions.
