September 02, 2015
A £600,000 investment from the Magnavale Group has enabled Rick Bestwick to upgrade the lighting at its coldstores at Scunthorpe and Holmewood, delivering £1.3m of savings over the next five years.
The LED lighting will ensure the more sustainable operation of the business and free up funds for further expansion in the number of cold stores it operates along with upgrading technology and equipment.
Kevin Hancock, managing director at Rick Bestwick said: “LED lighting uses 25% less energy than the previously installed fluorescent strip lighting which provides us with a number of benefits. Not only do the LEDs give a better quality of light and cost less to operate, but they omit less heat, meaning our refrigeration system doesn’t have to work as hard to maintain low temperatures in the cold stores.
“We’re committed to becoming a more sustainable company and the investment from Magnavale has allowed us to take a big step in that direction.”
Andrew Lawrence, director at Magnavale said: “We’re pleased to support Rick Bestwick with the installation of LED lighting as it will enable them to operate with a smaller carbon footprint and reduce the business’s overheads. While the initial outlay is high, the return will be realised quickly and we’re keen to support our portfolio to make small changes such that this that deliver a larger, longer term benefit.”
Founded in 2013, the Magnavale Group has members all around the UK. It currently owns over 1,500,000 square feet of warehousing which holds over 150,000 pallets across all temperature regimes. Having already invested over £40,000,000 into the members of the group, it is actively looking to invest and acquire other businesses in both the UK and Europe.