Tower Leasing Ltd officially announced on 5th May 2015 that the organisation has been acquired by Acuity Investments LLP.
Tower Leasing Ltd (Tower) officially announced on 5th May 2015 that the organisation has been acquired by Acuity Investments LLP (Acuity).
Tower is one of the leading equipment finance brokers in the UK and has been providing finance to a wide range of businesses for over 25 years. Throughout the years Tower has built an abundance of knowledge and experience in the different equipment sectors it works closely with, enabling the organisation to deliver a tailored and consistent service to each and every equipment supplier and customer choosing to work with Tower.
Tower specialises in financing a wide range of capital equipment, from telecoms equipment and photocopiers right through to waste compactors and air conditioning systems. Individual leases range from £1,000 to over £500,000 per transaction. Since inception the organisation has enabled SMEs, new start and blue chip companies to acquire the equipment they need through an alternative investment method, leasing. Over the years Tower has earned an unparalleled reputation for the service it delivers to its customers, providing an easy and consistent lease process has always been a top priority for the organisation.
Tower will continue to be run by its highly experienced management team led by Managing Director, Kerry Howells.
Acuity is a newly formed investment partnership set up in 2014, focused on buying companies in the financial services sector, such as specialist lenders or insurance companies. Tower is Acuity’s second investment. Acuity is run by Adam Barron and Toby Franklin. Adam and Toby have significant prior experience both working and investing in financial services business.
John Keevill, the founder and owner of Tower, decided after 25 years to sell the organisation to Acuity. Both Adam and Toby will join the board of Tower as non-executives and plan to retain the existing executive management team to run the business as they have for several years. Acuity does not have any plans to change the way that Tower conducts its business. Acuity plan to be long term owners of the company and their immediate focus is to maintain the smooth operations of the company in the transition of ownership.
“After 25 years under John’s leadership and more latterly his stewardship, we believe we have found the right partners in Acuity to develop the business in the future. Over the last several months we have spent a lot of time with Acuity and we sense a good fit and a strong alignment of strategy. We share similar aspirations for the business and they are supportive of our plans to continue to build and develop Tower.” Kerry Howells, MD.
“We are really excited about working with Tower. We see a shortage of funding available to SMEs and we want to support Tower in helping SMEs to access finance. The business is nimble and entrepreneurial and has significant growth aspirations, but importantly, it is thoughtful and cautious and has a considered approach to growth. Overall, Tower aims to continue to provide an expert and consistent service to those businesses looking to invest and grow.” Toby Franklin, partner at Acuity.
Contact details:
Kerry Howells, kerry@towerleasing.co.uk, 0845 226 9300
Toby Franklin, toby@acuityinvestments.co.uk, 07970 712762
