Investors have bought a school locker rental firm in Bedford out of administration and launched it in Suffolk as a new business.
Secure Locker Rental Ltd (SLR) - which employs six people - will be based in Mildenhall after investors at Arete rescued a business called Prefect Equipment.
The private equity investors acquired all of Prefect Equipment's assets - the business rents 55,000 lockers to more than 150 schools across the UK - and appointed William Knight as managing director.
Mr Knight - who has spent nearly three decades in the locker sector - said the focus would be on collaboration, adaptability, and delivering exceptional service.
Kenneth Wilson Pattullo and Gary Paul Shankland from business recovery specialists Begbies Traynor were appointed joint administrators of Prefect Equipment in October 2023 and secured the private equity deal.
"We are driven by a passion for providing schools with secure, cost-effective storage solutions," said Mr Knight.
“Our innovative 'Free Lockers' model alleviates financial burdens on schools while empowering pupils and parents to make informed decisions about their storage needs.
“With a firm focus on revitalising and growing the business, Secure Locker Rental is committed to breathing fresh air and new ideas into the well-established format of school storage solutions.”
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