Summary
AIR-serv Europe is a leading designer and manufacturer of air, vacuum and jet wash machines.
- Original investment: £143m
- Date of initial investment: 2023
- Valuation at 30 September 2025: £193m
- Sector: Industrials
Investment thesis
- Expand the installed machine estate, focusing on:
- jet wash and incremental air opportunities in the UK
- air growth in existing and new European geographies
- Create a standalone business, investing in people, operations and governance
- Drive performance efficiencies and cash generation
Headquartered in Wigan, the business is a leading provider of turnkey solutions for air, vacuum and jet wash machines. It serves a large and embedded customer base of fuel station forecourt operators across the UK and Western Europe, as well as a range of commercial partners across a number of end markets.
Caledonia Private Capital acquired AIR-serv Europe in April 2023, investing £143m. We have since worked with the business to enhance its value creation plan through the expansion of its estate, investment in the team and implementation of operational efficiencies. The business has delivered solid year-on-year growth.