Foresight invests £2 million into RFB Containers to support its acquisition of Forth Containers Limited

7 August 2023

Foresight publishes on its website:

Foresight invests £2 million into RFB Containers to support its acquisition of Forth Containers Limited

1. Foresight’s £2 million investment will support RFB’s acquisition of Forth Containers and its subsidiary Container World
2. The deal will enable RF Brown to become one of Scotland’s leading container hire, sales and self-storage providers

Edinburgh, 31 July, 2023: Foresight Group (“Foresight”), a leading regional private equity and infrastructure investment manager, has announced a £2 million investment into RFB Containers Limited (“RFB” or the “Company”) to support its acquisition of Forth Containers Limited (“Forth Containers”).

Led by Managing Director Angus Barraclough, RFB has experienced double digit growth in revenue and profits since Foresight’s initial £2.4 million investment in February 2021. This growth has been achieved through developing a successful business model based on the hire, sales and conversion of shipping containers.

Based in Bathgate, Forth Containers operates a similar business model to RFB. Joint owners, Ross Watt and Graeme Sherry, have heavily invested in Forth Containers’ hire fleet and operational infrastructure to drive growth in recent years.

The £2 million will support RFB in its next phase of growth to become one of Scotland’s leading container hire, sales and self-storage providers. This transaction will create a combined group with a hire fleet of over 2,000 containers – transitioning RFB into a multi-site operator. The new RFB Bathgate branch will be led by Ross Watt, who is continuing in his role as part of the transaction.

Angus, Managing Director at RFB, commented: “Ross and Graeme have built a great business with Forth Containers and the acquisition felt like a natural fit for our growth plans. The addition of the Bathgate site will allow us to provide a better service to customers across Scotland, and Ross is well respected in the industry and will be an excellent addition to RFB’s senior team.”

Graeme Mckinstry, Investment Director at Foresight, added: “We are delighted to support Angus, Ross and the wider RFB and Forth Containers teams as they target a significant market opportunity. We’ve been impressed by the strong track record of profitable growth demonstrated by Forth Containers. This aligns well with the RFB business model, and we look forward to supporting RFB on the next phase of its growth journey.”

Ross Watt, General Manager at Forth Containers, concluded: “I am delighted by this acquisition. Forth Containers started as a modest business and, through the loyalty and dedication of its employees, has grown into a prosperous business. I was impressed with Angus and the RFB team’s professional approach and I look forward to being part of the growth plans to expand market share across Scotland.”

Foresight continues to be one of the UK’s most active investors in growth companies. In the past 18 months, Foresight Private Equity announced four new funds, a ventures fund acquisition, and expanded its office network – opening offices in Dublin, Leeds and Newcastle. So far in calendar year 2023, Foresight has invested into over 35 SMEs and has announced a number of successful exits, including Datapath (11.7x money), Mowgli (3.5x money) and GovGrant (4.5x money).

Source: Foresight