Close Brothers has announced the sale of Close Brothers Brewery Rentals to MML Keystone, a fund managed by MML Capital, an international mid-market private equity firm that invests in asset-backed businesses. The transaction is expected to complete in the 2025 calendar year.
While Close Brothers will no longer provide brewery container rental solutions, they will continue to offer specialist financing solutions to the wider drinks industry through the company’s beverage finance offering.
The Brewery Rentals business was established in 2007 and has successfully grown it into one of the main providers of rental and maintenance services for brewery containers in the UK and Ireland.
The team operates from three sites and manages a fleet of over one million kegs and casks, including long-term rental containers, ekegs and ecasks. The team also provides container repair and maintenance servicing to the brewing industry.
The new leadership team from MML has extensive industry and specialist experience in starting, building and scaling keg operations across the UK, Europe, Australia, New Zealand and North America. They will be looking to expand Brewery Rentals’ long-established and trusted footprint, and trade simply as ekeg.
Ross Mair, managing director of Close Brothers Beverage Finance, said: “The Brewery Rentals business has been part of Close Brothers for over 18 years, and we have grown it successfully to now serve over 500 breweries in the UK and Ireland. MML Keystone will provide a great home for our colleagues and customers. We would like to thank the team for their commitment and efforts, and we wish them continued success as they embark on this new phase.
“We’re excited to continue to offer specialist funding solutions through Close Brothers Beverage Finance to fuel the innovation and ambition of the beverage sector.”
Christian Barden, incoming CEO UK and Ireland ekeg, said: “Close Brothers has built a phenomenal business over the last two decades and we’re proud to have this opportunity to lead it through its next chapter and look forward to working with the management team to develop the ekeg offering, technology and people.”
