Private equity investor Blantyre Capital has agreed the sale of McAvoy Group to Duke Street for an undisclosed sum.
Founded in 1972, McAvoy designs and manufacturers modular buildings at its factory in Lisburn, Northern Ireland. It has the capacity to design and manufacture up to 1,200 modules a year, making McAvoy one of the largest modular building providers in the UK.
McAvoy has more than 160 employees and offices in Dublin, Birmingham, Bristol, and London.
It was acquired by Blantyre in 2020 from the McAvoy family. Since then it has grown in line with market demand. Particular growth has come from its rental division.
Duke Street said that its investment in McAvoy would increase the size and quality of the rental fleet, “enabling McAvoy to continue offering its customers premium, high-quality buildings delivered at pace and without the need for capital outlay”.
McAvoy chief executive Ron Clarke said: “Securing the backing and support of Duke Street, one of Europe’s most well-respected investors, underscores the strength of our proposition. They join at a critical time in the modular building industry, when the need for high-quality solutions has never been higher. Our company is uniquely positioned for further growth with a model that combines operational excellence, sophisticated design and deep sector expertise. We thank Blantyre for their commitment and support over the past five years. Together, we have achieved significant growth, establishing McAvoy as a trusted provider of high-quality, adaptable modular buildings across the UK and Ireland.”
Duke Street partner Joe Thompson said: “McAvoy is a sustainable, well-capitalised and market-leading business that has a strong reputation for building premium modular solutions. In the last few years, the exceptional management team, led by CEO Ron Clarke, has successfully taken to market a new and differentiated modular product, SmartSpace, that exceeds building regulation requirements. Duke Street’s acquisition of McAvoy complements our long-held investment focus in essential social infrastructure services that provide the backbone to the economy.”
Blantyre investment director Johann Scheid said: “Over the past five years, McAvoy has undergone a transformational period, successfully launching SmartSpace and expanding its modular rental fleet while delivering a broad range of new permanent modular buildings across education, healthcare, and other key sectors. We are confident that McAvoy has found an excellent new home in Duke Street for its next chapter of growth. We wish the company, its management, staff, and new shareholders every success in the future.”
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