Cabot Square acquires modular builder
Cabot Square Capital has announced its acquisition of a majority stake in off-site builder Premier Modular.
The private equity firm has added the business to its growing portfolio of modular providers, which includes NetZero Buildings and developer Public Sector.
Premier Modular was established in 1956 in East Yorkshire. The business had £34.5m on its balance sheet and reported pre-tax profit of £7m for the last financial year ended 30 June 2020.
Cabot Square Capital has announced its acquisition of a majority stake in off-site builder Premier Modular.
The private equity firm has added the business to its growing portfolio of modular providers, which includes NetZero Buildings and developer Public Sector.
Premier Modular was established in 1956 in East Yorkshire. The business had £34.5m on its balance sheet and reported pre-tax profit of £7m for the last financial year ended 30 June 2020.
The company provides temporary and permanent buildings, including residential and education and healthcare. Its projects include the £50m office and welfare buildings at Hinkley Point as well as a number of Covid-19 testing sites and hospital development in Chertsey, Surrey.
Cabot Square aims to increase turnover from £65m last year to £100m within three years through geographical and sector expansion.
Keith Maddin, partner at Cabot Square, said: “MMC and off-site manufacturing are revolutionising the construction industry. We are seeing significant growth as more public and private sector clients develop a deeper understanding of the speed, quality, cost, environmental and social benefits of moving construction into a controlled factory setting.
“There has also been a surge in interest in off-site following the Covid-19 pandemic as more construction clients and contractors recognise how the approach can reduce risk and disruption on site.”
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Picture © Premier Modular
