Sun Organisation Limited Sold in Deal Advised by KBS Corporate
Sun Organisation Limited, trading as Sunrent, has been acquired by Prohire plc for a final deal value of £5.8m.
Kent-based Sunrent is a family owned business that specialises in vehicle rental and contract hire operation, specifically in the provision of refrigerated vehicles to the food industry. Established in 2000, Sunrent has grown through developing a portfolio of long term contracts with a loyal blue chip client base.
The shareholding family and management team impressively hold over 40 years of experience of the contract hire and rental industry, giving the company a unique status in the contract hire marketplace.
KBS Corporate created a research strategy that specifically targeted potential acquirers within the vehicle and contract hire sectors. 25 parties registered their interest before an agreement was made with Prohire Group plc.
Prohire, founded in 1997, has grown via acquisitions throughout its lifespan in order to become a significant operator in the commercial vehicle contract hire sector.
The deal was completed within 12 months of the opportunity coming to market. Jason Saunders, co-owner of Sunrent, commented, “The Saunders family would like to thank KBS Corporate for going the extra mile and making the transaction happen. It was a pleasure to work with KBS, and their professionalism was maintained throughout the process. We are looking forward to the future, and will help Prohire as much as we can to integrate Sunrent into their company.”