Baird Capital has backed the management team of Watkins Hire Ltd. in acquiring the company, according to U.K. media reports. Baird invested £10.1 million (about U.S. $16.6) in additional growth capital to expand the company’s rental fleet and accelerate its growth.

Watkins Hire is a provider of temperature-control equipment rental services.

The Watkins Group of companies was established in 1860.