Construction equipment washing business Washbox is understood to be looking for a deep-pocketed backer.
Construction equipment washing business Washbox is understood to be looking for a deep-pocketed investor to help with its expansion plans.James Davies
Washbox has been around since 2006 and offers a site-based tool wash solution for painters, plasters, tilers and renderers to wash their equipment. The unit uses recycled water and has reusable filters. The flyer also touted Washbox’s green credentials: it expected to save over 10.3 million litres of water in the three years to the 2022 financial year and remove 258.5 tonnes of carbon dioxide.The flyer said the business would look to grow from 80 built washing units and 38 clients in the 2023 financial year to 260 units and 154 clients in five years.
Washbox’s preference was for a strategic backer with experience in construction hire firms, waste sector or construction manufacturing and distribution. But it was also open to private equity firms taking a slice of the business.
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