Looking to the future, Premier Modular, one of the UK’s leading offsite construction specialists has secured funding with a majority shareholding from Cabot Square Capital. The successful negotiations were supported by insight and support from Hickman Shearer. As a result, the investment will boost the strategic growth of Premier’s business, particularly the modular hire business and permanent offsite sections.
Premier Modular is widely known for a number of high-profile schemes including a £50m project to provide office and welfare buildings at Hinkley Point. Also, to support the Government’s response to the coronavirus pandemic, they are currently involved with the construction of Covid-19 testing sites across the UK and recently expanded into the residential sector in 2020 with several apartment schemes.
Following the announcement, Keith Maddin, Partner at Cabot Square, said, “Offsite manufacturing is revolutionising construction. We are seeing significant growth as more public and private sector clients develop a deeper understanding of the speed, quality, cost, environmental and social benefits of moving work offsite. There has also been a surge in interest following the Covid-19 pandemic as more clients and contractors recognise how the approach can reduce risk and disruption on site.” “Premier is a high-performing, profitable business, which manufactures high quality building solutions and continues to expand its hire fleet – already one of the newest in the UK. We are excited to partner with its outstanding management team and support the business on the next phase of its growth, including sector and geographical expansion.”
Tim Chapman, partner at Hickman Shearer said: “Cabot Square are exploring a number of investment opportunities and it was particularly exciting to be involved with them on the Premier Modular project. Working closely with the management teams, we gave valuable insight into the business and its operations providing capital asset due-diligence and valuation advice, which is no doubt why they could secure this investment. Based on this, the next growth phase of Premier is promising to be significant as they continue to maximise on their opportunities and build the business moving forwards.”