STAR Capital to acquire GenAir UK Limited
10 February 2025
STAR Capital Partnership LLP (“STAR”) is pleased to announce that the STAR IV Fund has completed its investment in GenAir UK Limited (“GenAir”), the UK’s leading pure-play air compressor rental provider. STAR will become majority owners alongside the founders and is joined by Andy Wright (ex-CEO of Sunbelt Rentals UK) as Chairman.
GenAir has enjoyed considerable success in recent years with its pure-play approach, allowing a differentiated focus on service quality and reliability to a broad and growing customer base. 90% of customer use cases are recurring repair and maintenance activities at manufacturing and industrial sites or for maintaining utilities and transport infrastructure. The company provides services from 3 depots providing nationwide coverage of the UK.
GenAir fits well within STAR’s specialist rental and “assets as a service” investment theme. Its leading position, growth track record, essential nature of its service, and resilient end markets are typical of the qualities STAR seeks in its investments.
GenAir represents the STAR IV fund’s sixth acquisition to date.
STAR has a successful track record in value generation and driving growth, typically investing in asset-based companies that provide an essential service to its customers, with enterprise value up to €1 billion.