KKR Acquires Dawsongroup to Drive Sustainable Growth and Fleet Transition

KKR, a leading global investment firm, has announced its acquisition of Dawsongroup, a leading independent asset leasing business, in a strategic move to support the company's ambitious growth strategy and fleet transition. The acquisition, valued at approximately £250m, aligns with KKR's Global Climate strategy, which focuses on scaling net-zero solutions and transitioning higher emitting assets.

Dawsongroup, headquartered in Milton Keynes, UK, has developed a solid platform with first-rate supplier relationships, a diversified customer base, and a supportive employer to over 1,150 employees across 11 countries. The company specializes in vehicle and refrigerated box leasing, with a broad and integrated business model that involves customization of assets to customer specification, as well as maintenance and repairs.

Under KKR's ownership, Dawsongroup plans to expand its markets throughout the entire supply chain, accelerate the launch of its sustainable growth strategy, and maintain its EBITDA margin profile. KKR will also implement an employee ownership program, providing Dawsongroup employees with the opportunity to directly participate in the Group's future success.

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. We are delighted to have the backing of KKR as we enter the next phase of our development and effectively contribute to our customers' transition to zero emissions."

Vincent Policard, Partner and Co-Head of European Infrastructure at KKR, said: "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, and aligned with KKR's commitment to advancing the transition to a low-carbon future. By deploying our global expertise and network, we will help Dawsongroup drive sustainable growth, expand into new geographies, and contribute to the broader shift toward cleaner, more resilient infrastructure."

Freya Dawson, on behalf of the Dawson family, added: "On behalf of the Dawson family, I am extremely proud of Dawsongroup's achievements to date and we are highly supportive of this strategic partnership with KKR. With the Dawson family's backing and long-standing support from employees, the Group has evolved into the innovative asset leasing platform it is today. Combining Dawsongroup's highly experienced management team with the knowledge and experience of the KKR team, we believe the impressive trajectory achieved to date can accelerate even further and we look forward to its future success."

KKR's acquisition of Dawsongroup is a strategic move that aligns with the growing trend of infrastructure investments in sustainability-focused businesses. Dawsongroup's established presence across 11 countries and diverse revenue streams from vehicle leasing and refrigerated solutions provide significant scaling opportunities. The deal structure, incorporating an employee ownership program, typically enhances operational performance and staff retention. This acquisition represents KKR's broader strategy of deploying capital in the UK market, where they have already invested over £24bn across various platforms.

The acquisition is strategically positioned within the rapidly evolving fleet electrification market. Dawsongroup's existing capabilities in EV deployment, solar integration, and battery storage solutions present a ready platform for accelerated decarbonization of commercial fleets. The synergy with KKR's other climate investments, particularly Zenobē, could create a powerful ecosystem for transportation electrification. The timing is particularly advantageous given the regulatory push toward zero-emission vehicles across Europe. Dawsongroup's "Smarter Asset Strategy" positions them to capitalize on the growing demand for fleet transition services, while KKR's expertise and capital can accelerate the electrification of their asset portfolio. This move could potentially reshape the commercial vehicle leasing landscape as businesses increasingly seek sustainable fleet solutions.