Modulaire Group strengthens UK business with acquisition of Advanté
London (23 December 2020) - Modulaire Group, the leading modular space leasing business in Europe and Asia Pacific, is pleased to announce the completion of the acquisition of Advanté Ltd (“Advanté”) in the UK.
Advanté created and continues to be a leading player in the market in hire and after sales service of premium, eco-friendly instant start welfare accommodation with the Oasis brand. Their 500 modules enable contractors to commence work on site without delay, providing workers with welfare and office facilities, at the start and end of a construction project. Advanté has approximately 50 employees and annual revenue of £11m.
Advanté’s experienced management team will remain with the business which will operate as a specialist company alongside Elliott, Modulaire Group’s existing business in the UK.
Environmental impact sits at the core of Advanté’s business model, meaning customers will benefit from a reduced carbon footprint, fuel efficiency and the use of renewable energy and resources. This, coupled with clear strategic growth drivers, a strong financial track record and Advanté’s long-standing relationships with its customers, will complement and strengthen Modulaire Group’s position in the UK market.
Advanté is Modulaire Group’s sixth acquisition in 2020 worldwide. A targeted acquisition strategy is 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, said:
“I am delighted to welcome Advanté to Modulaire Group. Their technical innovation, high-quality service and industry leading environmental credentials have all contributed to Advanté’s position as a specialist business focussing on welfare units in the UK. Management’s strong customer relationships mean they are well positioned for the significant opportunities that are emerging, particularly within the housebuilding and construction industries in the UK.”
Mandy Messenger, Advanté’s Managing Director, said:
“Our focus on innovation and close, long-term working relationships with our customers have been key to Advanté’s success and we are proud of the Oasis brand reputation. The investments we have made in recent years have improved our resilience and we are well placed to deliver on the many growth opportunities we see ahead of us. As part of Modulaire Group we look forward to realising our full potential.”
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 25 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe and Scandinavia, Elliott 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 Advanté Ltd
Advanté is a specialist provider of instant start welfare accommodation that provides facilities to workers before utilities have been connected to a site. Advanté operates 500 units across the UK under the Oasis brand. Advanté’ has a strong heritage of innovation and its fleet uses renewable energy and low emission generators to minimise the carbon footprint for customers.
For further information
Investor relations: Phil Vellacott
0207 353 4200