New school locker rental company Secure Locker Rentals launched
William Knight, Managing Director – Secure Locker Rentals.
Prefect Equipment rescued from administration
Industry veteran William Knight to head the new company
Mildenhall, Suffolk – May, 2024 – A new school locker rental company has been launched after a rescue mission by investors to save a business from administration.
Kenneth Wilson Pattullo and Gary Paul Shankland from business recovery specialists Begbies Traynor were appointed joint administrators of Prefect Equipment, based in Bedford, in October 2023.
In a recently completed deal, private equity investors acquired all assets, ensuring customer continuity and retaining all five staff members.
The company rents 55,000 lockers to more than 150 schools across the UK.
The company has now been relaunched as Secure Locker Rental Ltd (SLR) and will be based in Mildenhall, Suffolk. Investors have appointed William Knight as Managing Director.
Commenting on the deal, William Knight said: “At Secure Locker Rental, we are driven by a passion for providing schools with secure, cost-effective storage solutions.
“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.”
Under Knight’s seasoned leadership, backed by nearly three decades of experience in the locker sector, the new company aims to grow by 20 per cent in its first year of operation.
The ‘Free Lockers’ offering entails schools receiving lockers at no charge. Most schools entrust SLR with booking arrangements, while some pay the full locker rental charge directly and manage pupil allocations independently. Other pre-purchased lockers, including those for disadvantaged pupils, are invoiced to the schools who handle onward allocation. Some schools subsidise lockers, and SLR invoices them for the difference, with the school issuing voucher codes to parents entitled to booking at the subsidised rate.
Secure Locker Rentals’ commitment to flexibility and sustainability extends beyond its ‘Free Lockers’ model. The company offers diverse rental models tailored to meet schools’ unique needs and financial capabilities, ensuring a hassle-free experience for institutions and students.
“As we enter the market, our focus remains on collaboration, adaptability, and delivering exceptional service,” Knight emphasised. “We are dedicated to navigating challenges, fostering strong partnerships, and driving positive change in school storage systems.”
