Modular Group Investments (MGI), the company that has recently acquired Euramax, has now acquired South Yorkshire based fabricator Rapid PVCU systems. This was the statement the company released:
Modular Group Investments Limited (MGI), a fast-growing group of businesses in the UK offsite and modular manufacturing sectors, has completed the next stage of its acquisition strategy with the purchase of the entire share capital of Rapid PVCU Systems Limited, a 12-year-old fenestration fabricator in Doncaster, South Yorkshire.
The acquisition follows hot on the heels of the recent purchase of 3,000 frames per week fabricator Euramax Solutions Limited, creating a combined fenestration business with 2021 revenues forecasted around £40m and with customers across leisure, MMC, retail merchants and new build.
The transaction closed on 1 April 2021. MGI were advised by Hempsons (legal), TML Finance and Advisory (finance) and TC Group (Accounting).
Michael Garratt, founder/CEO at MGI said: “This exciting acquisition will significantly increase the productive capacity of the MGI fenestration business and diversify the customer base. It will also allow Rapid to expand and develop to better serve the needs of its customers. We are delighted to be working with the experienced fabrication and installation teams at Rapid and look forward to a bright future together.”
Nick Cowley, MGI Group MD commented: “This acquisition will create integration, scale and diversification benefits across our fenestration businesses and provides MGI a larger capacity to develop new products, to deliver unrivalled excellence and to work closely with customers to meet their changing needs.”
Chris Butters, Chair at MGI stated: “We are delighted to have added Rapid to our Group and look forward to further transactions which will add value to our strategic positioning in the quickly growing offsite/MMC sector. We believe that the long-term needs across UK housing and construction sectors will support the momentum and innovation which fuels the very strong demand traction where MGI operates.”
According to their website:
Modular Group Investments Limited is an active and innovative investment group with a goal to make positive changes and progress within UK Modular Manufacturing and SME businesses in synergistic markets.
We invest in a range of sub sectors across the construction and manufacturing markets including:-
Manufacturing of componentry & materials for the construction sector.
Wholesale supply of componentry & materials for the construction sector.
Warehousing, Storage & Distribution.
Supply chain operators in both the manufacturing & construction sector.
Our team benefits from over 140 years of combined experience across all professions including M&A transactions, buyouts, operational, legal, accounting and strategic business management.
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