Modulaire expands in Italy
By Belinda Smart04 August 2021
Multinational modular workspace company Modulaire has completed the acquisition of Italian modular building company Tecnifor which includes the Locabox and FAE businesses.
Modulaire will trade under the Tecnifor and Locabox brands in Italy.
Headquartered in San Gemini, north of Rome, Tecnifor, Locabox and FAE provide modular buildings, with a fleet of 12,000 units targeted at the construction and public administration sectors.
FAE also operates a facility in San Gemini that manufactures units for the rental fleet or sales market.
The combined group of companies have 140 employees and annual revenues of €35 million.
The acquisition comes as Modulaire goes through the process of a change in ownership, with long time private equity owner TDR Capital selling the business to investment firm Brookfield Business Partners in a deal worth US$5 billion (€4.18 billion).
Mark Higson, Modulaire Group’s Chief Executive Officer, said the acquisition, completed in late July, would strengthen Modulaire Group’s presence in Italy.
“I am delighted to welcome Tecnifor, Locabox and FAE into the Group and look forward to working with their highly experienced and expert management team.”
The move follows Modulaire’s acquisition, also completed in July, of UK company Procomm Site Services, a provider of portable modular accommodation, servicing the construction, public sector and petro-chemical sectors from four depots across the country.
Modulaire operates under the Procomm brand in the UK.
Procomm has an 8,000 strong fleet and employs 125 employees. The company has an annual 2020 revenue of £19 million (€22,313,400). It will retain its management team, which will operate alongside the Modulaire’s other specialist modular businesses in the UK: Elliott, Carter and Advanté.
Higson said Procomm’s fleet and range of end-markets would strengthen Modulaire Group’s position in the UK.
Modulaire Group has operations in 25 countries, offering over 270,000 modular space and portable storage units and 3,400 remote accommodation rooms.
The Group operates as Algeco in Europe and Scandinavia, Elliott, Advanté, Carter and ProComm in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Tecnifor and Locabox in Italy, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.