GenAir: STAR Capital Completes Acquisition of UK's Top Air Compressor Rental Firm
Deal News | Feb 10, 2025 | STAR Capital (London)
STAR Capital Partnership LLP has completed an investment through its STAR IV Fund in GenAir UK Limited, a leading UK air compressor rental provider. As part of the deal, STAR Capital becomes the majority owner alongside the company's founders. Andy Wright, former CEO of Sunbelt Rentals UK, joins as Chairman. GenAir, which operates three depots providing nationwide services, has found success with a pure-play focus on quality service and reliability. This acquisition aligns with STAR Capital's strategy of investing in asset-based enterprises with essential services and resilient markets. GenAir is the sixth acquisition for the STAR IV Fund, which targets investments with an enterprise value of up to 1 billion.
Sectors
- Industrial Equipment Rental
- Private Equity
Geography
- United Kingdom – GenAir and STAR Capital are based in the UK, and the acquisition pertains to the UK industrial and rental markets.
Industry
- Industrial Equipment Rental – GenAir operates within the industrial equipment rental sector, providing air compressors crucial for maintenance and repair activities in various industries.
- Private Equity – STAR Capital's involvement in the acquisition of GenAir highlights the role of private equity in funding and growing asset-based service companies.
Financials
- Enterprise value up to 1 billion – STAR Capital typically invests in asset-based companies with an enterprise value up to this amount.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GenAir UK Limited | Target Company | Company | GenAir is a leading air compressor rental provider in the UK. |
| STAR Capital Partnership LLP | Bidding Company/Buyer | Company | A private equity firm based in London, acquiring GenAir through its STAR IV Fund. |
| Andy Wright | Chairman | Person | Former CEO of Sunbelt Rentals UK, joining GenAir as Chairman. |