Lowe Rental attracts new investment
10th November 2025
UK: Private equity firm MML Keystone has made a majority investment in Lowe Rental Corporation, the Lisburn, Northern Ireland, commercial refrigeration and catering equipment rental company.
MML was Lowe Rental’s first institutional investor in 2014, before private equity firm Perwyn took over in 2018 in a £60m deal. Perwyn will also be reinvesting in Lowe Rental. MML’s level of investment has not been revealed.
The business experienced record expansion throughout Perwyn’s tenure, with turnover growing from £33m in 2019 to around £120m this year.
The new partnership with MML Keystone is intended to support Lowe Rental’s pursuit of both organic and strategic acquisition-led growth, enhance its rental initiatives and further expand its IoT technology offering.
Andrew Honan, MML Keystone’s co-managing partner said that hue was delighted to be renewing the partnership with Lowe. “We have been greatly impressed by the global platform that Rachel [Rachel McCausland, CEO of Lowe Rental] and the team at Lowe Rental have built, and we have a strong conviction in the value that the Lowe Rental equipment-as-a-service model delivers to its clients,” he said.
“During the time of our investment in Lowe Rental it has evolved into a truly global platform, operating 12 strategic distribution centers across North America, the UK and Europe, the GCC, and Asia,” commented Perwyn partner Mark Blower.
“We are proud to have supported the company to build a diverse customer base spanning grocery retail, food and beverage exhibitions, major sporting events, and public sector institutions.
Founded in 1977 and headquartered in Northern Ireland, Lowe Rental Corporation provides refrigeration, cold rooms, catering equipment, and kitchen infrastructure to businesses across retail, hospitality, events, and public sector markets.
It has a team of over 500 employees delivering fully-managed rental solutions as well as specialised consultancy and design services. Its LoweConex IoT platform drives data-led energy management and sustainability across global equipment fleets.
