Algeco appoints CEO

December 18th 2019

London (18 December 2019) - Algeco Group, Europe and Asia Pacific’s leading business services company specialising in modular space, is pleased to announce the appointment of Mark Higson as its new Chief Executive Officer.

Mark will take up his role on 1st February 2020, succeeding Andrew Tyler, who, as previously announced, stepped down in November 2019.

Mark is currently 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.

Headquartered in London, Algeco has operations in 22 countries with approximately 240,000 modular space and portable storage units and 3,400 remote accommodation rooms. The business benefits from strong recurring revenue streams, a best-in-class value added products and services offering and plays into the broader secular trend towards modularisation and agile space solutions.

Under Mark’s leadership, Algeco will 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.

Commenting on the appointment, Mike Smith, Chairman of Algeco, said: “I am delighted to announce the appointment of Mark 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. The business is in strong health today thanks to the transformative actions that have taken place over recent years and I look forward to getting started and delivering value for customers, returns to investors and great opportunities for our people.”

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