Algeco adds to French market leadership with acquisition of Altempo
LONDON 10 January 2020 – Algeco Group, the leading modular space leasing business in Europe and Asia Pacific, today announces the acquisition of the French business, Altempo SAS (“Altempo”).
Altempo specialises in large, complex tenders which require bespoke solutions and innovative service offerings, and its acquisition will enable Algeco to participate more effectively in this attractive segment of the French modular space market. Altempo operates a fleet of c. 3,000 units, has 61 employees and revenues of c. €25 million.
Mike Smith, Chairman of Algeco, said: “Altempo will be an excellent addition to our market-leading business in France. Under the leadership of Thierry Munier, Altempo has developed a compelling and well-differentiated offering that is underpinned by constant innovation across its products, components and services. I am delighted that Thierry will remain with Algeco and continue to lead this business.”
Thierry Munier, Managing Director of Altempo, said: “We are very excited to join Algeco, the leading modular space business in Europe. I am looking forward to working closely with Alexis Salmon-Legagneur and his team to ensure we’re best-placed to take advantage of the attractive opportunities available to us.”
About Modulaire Group
Modulaire Group is the world’s leading business services company specialising in modular space. 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 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
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Investor relations: Phil Vellacott
Cautionary Notice Regarding Forward Looking Statements
This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions, which reflect Modulaire Group's expectations regarding its future operational and financial performance. By their nature, the forward-looking events described in this press release may not be accurate or occur at all. In particular, we may not be able to realize the anticipated benefits of the acquisition of Altempo SAS. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date on which the statements were made. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.