The acquisition of PKL Group supports Lowe’s aims for growth. The combined group is projected to have revenues of over £50 million in 2019/20 and will operate from 11 locations across the globe.
Lee Vines, chief executive of PKL Group, said: “Having the backing of such a large, globally renowned company unlocks new significant growth potential in markets and geographies that historically would have been out of reach.
“The Lowe team also brings a wealth of refrigeration knowledge to the table and we are very enthusiastic about the prospect of providing a broader and highly compelling offering in the market.”
The PKL Group was founded in 1998 and employs over 100 staff at its base in Cheltenham. PKL has supplied temporary kitchens and catering equipment for events including the Olympics and Commonwealth games.
Rodney Lowry, chief executive of Lowe, added: "We are delighted to welcome PKL into our high-performing group. With innovation and a customer-focused approach at our core, PKL is a perfect fit.
“There are excellent synergies between the companies such as our approach to customer service, our reputation as trusted brands, the quality of products we supply and the high calibre of the management teams.
“Both companies are delighted to have all formalities of the deal completed, clearing the way for our staff to start the business of building a collective powerhouse in the rental of refrigeration, catering equipment and temporary kitchens across the world.”