REAL ESTATE INVESTMENT
Modulaire Group | November 19, 2021
Modulaire Group, a leading business services company specialising in modular space, is pleased to announce it has agreed to acquire Alquibalat, S.L. ("Balat") in Spain.
Based in Pamplona, Balat is a leader in the Spanish market for the rent and sale of modular buildings, with a strong presence in the construction sector. It operates over 15,000 units from 15 sites in Spain and Portugal, including in Madrid, Barcelona, Bilbao, Coruna, Malaga, Seville, and Valencia.
Balat had revenues of €32 million in 2020 and has approximately 165 employees. The transaction, which remains subject to review by the CNMC, the Spanish competition authority, is expected to close by Spring 2022.
"We are delighted to confirm the transaction with Balat, a leader in modular buildings in the growing Spanish market. The strength of the business is a testament to the experience and hard work of Management. I look forward to working with the team."
- Mark Higson, Modulaire Group's Chief Executive Officer
"We believe the takeover by Modulaire Group will strengthen the future of Balat, support the next phases of growth and provide Balat's team further opportunities to grow their careers. We would like to take this opportunity to thank our professionals for their hard work and commitment in developing Balat's business."
- Rafael Baranda, Chief Executive Officer of Balat
The acquisition of Balat will be Modulaire Group's fourth acquisition in 2021 and the tenth acquisition worldwide since the beginning of 2020. A targeted acquisition strategy remains 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.
About Modulaire Group
Modulaire Group is a leader in European modular services and infrastructure. 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 267,000 modular space and portable storage units and 4,400 remote accommodations rooms. The company 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.
prnewswire | September 01, 2020
The "Single-Family Modular and Prefabricated Housing Construction Global Market Report 2020: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering. This report provides strategists, marketers and senior management with the critical information they need to assess the global single-family modular and prefabricated housing construction market. This report focuses on single-family modular and prefabricated housing construction market which is experiencing strong growth. the report gives a guide to the single-family modular and prefabricated housing construction market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Real Clear Markets | April 22, 2020
The Trump administration is starting to turn its attention toward re-opening and revitalizing the economy, with the President announcing the formation of a new taskforce dedicated to these goals. While the health of Americans remains the top priority, the administration is right to also focus on kickstarting the once-roaring economy through tax and deregulatory policies that encourage investment and job creation. One policy proposal that should be at the top of this list is rolling back the Foreign Investment in Real Property Act (FIRPTA), an outdated law that restricts foreign dollars in American real estate by imposing higher taxes on foreign investment in real estate and infrastructure than those on other asset classes like stocks and bonds.