Algeco announces management changes

February 6th 2020

LONDON (6 February 2020) – Algeco Group, the leading modular space leasing business in Europe and Asia Pacific, is pleased to announce that Mark Higson has joined the group as its new Chief Executive Officer.

Mark was most recently the Managing Director of Wolseley UK, a leading plumbing, heating and cooling trade specialist merchant with 550 branches across the UK. Before joining Wolseley in March 2018, Mark was Managing Director at the Royal Mail from 2007 to 2014, where he managed the operational turnaround of the letters and parcels business. Prior to this, Mark was a Director of BPB plc, the building materials group, where he held a variety of senior leadership positions in businesses in Europe, Africa and the Middle East. He has also worked with Advent International, advising on a variety of the private equity firm’s portfolio businesses.

Under Mark’s leadership, Algeco will continue to focus on its clear priorities for driving profitability across the business through effective capital investment, a focus on optimising sales and granular management of branch level performance, an efficient cost base, and a targeted acquisition strategy.

Mike Smith, Chairman of Algeco, commented: “I am delighted that Mark has now started with us as our new CEO. Mark is a highly experienced operational leader with a proven track record, having spent much of his career running a range of large UK and international branch-based businesses. He has demonstrated strong management skills and the strategic insights that we believe will build on the strengths of our business today and lead Algeco through its next phase of growth.”

Mark Higson said: “Algeco is a great company with very exciting prospects. I am working with people in the business to rapidly develop my knowledge of the group and very much look forward to delivering value for customers, returns to investors and great opportunities for our people.”

Algeco has also today announced that Bruce Melizan, Chief Operating Officer, left the business on 31 January 2020. The responsibilities of the Chief Operating Officer will be assumed by other members of the executive team during the transition period.

Mike Smith, Chairman, said: “Bruce has co-led a period of major change at Algeco which has seen significant growth in our 360 service penetration, a refocus on our branch performance and been responsible for driving a step change in our HSE culture. I would like to thank him for his significant contribution and wish him all the very best in the future.”

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.

For further information

Investor relations: Phil Vellacott
07841 563541

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