Houlihan Lokey Advises Cross Rental Services

Houlihan Lokey is pleased to announce that Cross Rental Services (CRS), a portfolio company of Lonsdale Capital Partners, has been acquired by Elysian Capital LLP. The transaction closed on August 2, 2021.

CRS is a market-leading provider of both refrigeration and catering (R&C) and climate control (CC) asset solutions across the U.K. and Ireland. The business pioneered the “equipment-as-a-service” offering upon CRS’ foundation in 2006 and has grown significantly since this date, both organically and through strategic acquisitions. The company provides mission-critical asset solutions ranging from design and asset sourcing to maintenance and breakdown support across resilient end markets, including essential retail, healthcare, facility management, and F&B. CRS operates a well-invested fleet of more than 14,000 assets delivered on both a short-term and long-term basis to more than 1,500 customers.

CRS operates in a highly attractive and growing “asset-as-a-service” market, which has remained highly resilient during the COVID-19 pandemic. Asset operators’ growing focus on financial predictability, operational flexibility, and total care asset solutions support expectations for continued robust market growth.

This transaction further strengthens Houlihan Lokey’s leading experience in the asset-as-a-service space.