Modulaire Group continues to strengthen its presence in the UK with acquisition of Procomm
London (ots/PRNewswire)
Modulaire Group, the leading modular space leasing business in Europe and Asia Pacific, is pleased to announce the completion of the acquisition of Procomm Site Services Ltd ("Procomm").Procomm is a leading provider of portable modular accommodation in the UK with a broad range of end markets including general construction, public sector and petro-chemical. With four strategically placed depots across the country, its c. 8,000 strong fleet is highly compatible with Modulaire Group's existing UK businesses. Procomm has 125 employees and an annual 2020 revenue of c.GBP19m.
The expert management team, with over 100 years of collective industry experience and strong track record, will remain with Procomm, which will operate alongside Elliott, Carter and Advanté, Modulaire Group's other specialist businesses in the UK.
Procomm marks Modulaire Group's third acquisition in 2021 and the tenth acquisition worldwide since the beginning of 2020. A targeted acquisition strategy remains one of Modulaire Group's four strategic objectives, alongside an efficient cost base, a focus on optimising sales and granular management of branch level performance, and effective capital investment.
Mark Higson, Modulaire Group's Chief Executive Officer, commented: "I am delighted to welcome Procomm into the Modulaire Group and look forward to working with their highly experienced management team. Procomm's well-invested and maintained fleet, alongside its diversified portfolio of attractive end-markets will further strengthen Modulaire Group's position in the UK." Bernie Cranny, Managing Director of Procomm, said: "We're really excited to join Modulaire Group and become part of the leading modular space provider in Europe. We're proud of the growth we have achieved to date and look forward to embarking on the next stage of our journey."
About Modulaire Group
Modulaire Group is a leader in European modular services and infrastructure. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 25 countries with approximately 259,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe and Scandinavia, Elliott, Advanté and Carter in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
About Procomm
Procomm Site Services Ltd was formed in 2002 in the Northeast of England. The business grew its national coverage and now has four strategically placed depots and a hire fleet of c. 8,000 units. The majority of the fleet comprises a highly versatile range of modular bays and this is complemented by AV and site storage units. Procomm has built its reputation on the quality of supply and excellent backup service.
For further information Investor relations: investorrelations@modulairegroup.com 07841 563541
Contact:
Tulchan Communications
modulairegroup@tulchangroup.com
0207 353 4200