County Durham container business targets self-storage expansion with £825k funding

Independent shipping container company Parsons Containers is expanding nationally with an £825k investment.

The six-figure boost, secured through Maven Capital Partners, will enable the Sedgefield-headquartered business to enhance its digital presence and open four new locations for its self-storage brand U Hold the Key over the coming 12 months.

The investment comprised £500k from the Finance Durham fund and £325k from the North East Development Capital Fund, both managed by Maven.

In addition to U Hold the Key, Parsons’ other brands include Parsons Containers and ContainerContainer. It supplies containers for shipping, freight, accommodation and storage.

The deal represents the first joint investment between two of Maven’s North East regional funds.

Parsons was founded in 2000 by managing director Ean Parsons, who said: “I am delighted with the investment by Maven, especially as it involves both The Finance Durham Fund and North East Development Fund.

“We are proud to be a North East business, rooted in County Durham and with a loyal and skilled local workforce.”

He continued: “With that platform, we have established a growing national customer base and a strong demand for our products and services.

“I am pleased that Maven is demonstrating confidence in the business with this investment. It will enable us to take advantage of existing opportunities and I am sure that we will repay this faith by strengthening our business in Durham and the North East.”

Maven investment director Michael Vassallo commented: “Parsons is an established and reputable business with a growing share of the UK shipping container market.

“Ean is an ambitious and dedicated Director who has grown the business substantially in the last 18 years and we are delighted to provide funding at this stage in the company’s development.”

He continued: “The joint investment between the two funds Maven manages in the region, the Finance Durham Fund and the North East Development Capital Fund, is a fantastic example of investors in the North East working together to provide a local business with a substantial funding package to enable it to grow.”

Angus Allan, from regional accountancy firm Clive Owen, advised Parsons on the deal.

The header image shows (L-R) Ean Parsons (Parsons), Angus Allan (Clive Owen), Cllr Simon Henig and Sarah Slaven (Durham County Council), Vivienne Parsons (Parsons), and Michael Vassallo (Maven).

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