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By Belinda Smart09 February 2021
Private equity firm Cabot Square Capital has acquired a majority shareholding in UK offsite construction company Premier Modular for an undisclosed sum.
Premier supplies rental and permanent offsite buildings for the education, healthcare, infrastructure, construction, and residential sectors. Last month it released full year financial results showing a 35 % rise in profit and confirmed it had earmarked £12m (€13.3m) to invest in its modular building rental fleet.
By Jim Dunton2021-02-08T11:12:00+00:00
Cabot Square Capital says covid has driven surge in offsite construction
Investment firm Cabot Square Capital has acquired a majority shareholding in offsite construction specialist Premier Modular, which is currently working on a range of schemes including the construction of covid-19 testing sites.
Premier Modular last month said pre-tax profit was up 23.2% to £7m on turnover up a quarter at £65.7m in the year to June 2020.
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Premier Modular directors David Harris, Dan Allison and Craig Glover
In addition, to a multi-million-pound contract for the rapid construction of coronavirus testing sites, Premier Modular has just been awarded a £7m contract for a 62-bed ward building at St Peter’s Hospital in Chertsey, Surrey.
An artist s impression of the extension LEIGHTON Hospital’s emergency department could soon expand by more than 4,000 square metres. Health chiefs have submitted a planning application to add a two-storey modular extension to the site’s accident and emergency department, which will be installed in the car park. The modular building will contain space for resuscitation, mental health assessment and paediatric suites, and CT and X-Ray services as well as administration facilities on the first floor. In a statement to planners, agents DAY Architectural said: “Architecturally the proposal for the expansion is a modular response to the existing department, working closely with Premier Modular to deliver an efficient, cost and time effective solution to the existing site through extensive contextual research in order to achieve a contemporary solution appropriate to the surrounding environment.
KHL Group
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By Belinda Smart11 January 2021
Premier Modular is set to invest in its rental fleet of modular buildings, as it releases financial results showing a 35 % rise in profit.
The company’s results for the financial year to the end of June 2020 report a 23 per cent increase in turnover to £65.3m (€72.5m) and a 35 per cent rise in profit to £10.6m (€11.7m).
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