KKR To Acquire Dawsongroup To Accelerate Growth And Support Fleet Transition

Dawsongroup, a leading independent asset leasing business, and KKR, a global investment firm, have announced that KKR has agreed to acquire Dawsongroup. This acquisition is part of KKR’s Global Climate strategy, which focuses on advancing net-zero solutions and decarbonizing high-emission assets, aligning with Dawsongroup’s sustainability goals.

Based in Milton Keynes, UK, Dawsongroup has been a leader in asset leasing since 1935, offering solutions like vehicles and refrigerated boxes. The company has a strong foundation with over 1,150 employees across 11 countries, robust supplier relationships, and a diverse customer base. Its innovative Smarter Asset Strategy helps businesses transition cost-effectively to net zero, making it a key player in the UK and an expanding force internationally.

Dawsongroup has shown consistent growth, achieving record Group EBITDA of approximately £250 million last year. Under KKR’s ownership, the company plans to expand further across the supply chain while accelerating its sustainable growth strategy. The partnership will also enhance Dawsongroup’s focus on energy-efficient solutions like EVs, solar power, Stage 5 generators, and battery storage, supporting the decarbonization of the asset leasing industry.

The Dawson family, who have led the company for over 90 years, will now collaborate with KKR to drive the next phase of growth. Additionally, KKR aims to introduce an employee ownership programme, allowing Dawsongroup employees to share in the company’s future success.

Stephen Miller, CEO of Dawsongroup, stated “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, commented “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, also 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 brings over 15 years of experience in infrastructure investing, with a strong focus on renewable energy and climate-related projects. The firm has committed more than $21 billion to this sector through its infrastructure platform. As part of its Global Climate strategy, KKR has made three key investments, including Zenobē, a UK leader in transport electrification and battery storage solutions. In the UK, KKR has been active for over 20 years, investing more than $24 billion across various platforms. In the last three years alone, it has dedicated over $5 billion to sustainability-focused projects, including Smart Metering Systems, Citation, ERM, John Laing, and Viridor.