Investment group MML Capital has announced it has invested £40m into Western Global, the leading provider of industrial liquid storage and dispensing solutions. The deal represents the latest in a series of transactions which has seen MML successfully complete 15 transactions in the last 12 months.
Founded as a family business in the UK, Western Global has grown impressively expanding across Europe and North America. Today, Western Global is the leading provider of portable tanks and dispensing equipment for the storage and handling of fuels, lubricants and other fluids. With safety and the environment high on its agenda, Western Global supplies market leading solutions with premium products driving up market standards in terms of safety, innovation, efficiency and environmental impact.
With MML’s support, Western Global will continue its strong growth trajectory as the leading platform in the liquid storage and dispensation market, particularly into the US. At the same time, the company will continue to expand its product range and technical capabilities to meet market needs.
Clem Connor, CEO, noted “Over the course of the last eighteen months, we have built a close relationship with the MML team who particularly impressed us with their flexibility and collaborative approach. We are confident that they are the right partner and look forward to working with them to deliver our ambitious expansion plans.”
Ian Wallis, Co-CEO at MML said “Western Global is exceptionally well placed to continue its growth and cement its position as the global market leader. MML has a unique track record of investing in innovative, fast growing businesses that want our style of partnership capital to support international growth. We look forward to partnering with Clem and his team as they continue on their impressive journey.”
Martyn Gregory, Senior Partner at Deloitte commented “We were delighted to be appointed as lead advisers by such an experienced management team in Clem, Rob, Rich Adams and Richard Jones and it was a pleasure to work together to achieve a fantastic result for Western Global. Management has delivered strong year on year growth in recent years, particularly in the US, and the Deloitte team are excited to see the continued growth of the business with MML. ”
The MML deal team comprised Ian Wallis (Co-CEO), Amar Shanghavi (Investment Manager), Will Stewart (Associate) and Harri Smith (Associate).
MML was advised by Lincoln International (Phil McCreanor, Aude Doyen), Pinsent Masons (Ed Stead, Vanessa Heap, Peter Morley, Ben Elliott) and CIL (Jon Whiteman).
Western Global was advised by Deloitte (Martyn Gregory, Richard Williams), Osborne Clarke (Al Livingstone, James Taylor, Ashley Morris), LEK (Tom Diplock) and PwC (Tom Ayerst, Andy Beckley, Matt Woolgar).
The transaction was supported by HSBC (Rhys Jones, Jodie Edwards, Tom Green).