Premier Modular makes temporary and permanent modular buildings for hire or sale from its base in Driffield, East Yorkshire.
Cabot Square Capital acquired Premier Modular from South Africa’s Waco International in 2021. MML Capital Partners has now joined as a co-investor, buying an undisclosed stake for an undisclosed amount.
Premier Modular’s most recent filed accounts, for the year to 30th June 2021, show turnover of £108m and pre-tax profit of £13.7m.
MML has come on board to help fuel Premier Modular’s growth ambitions.
“Premier Modular is already a well-run company, as seen in the great performance in recent years,” said Andrew Honan, managing partner (infrastructure) at MML. “But it’s Premier Modular’s long-term growth that we are really excited about. Fundamentally, we are seeing a big societal change in how we build our infrastructure in the UK and globally – a focus on being closer to the user’s specific needs and being able to rapidly respond to change. In that context, Premier is at the vanguard of enabling this change in sustainable and affordable ways.”
Cabot Square Capital partner Keith Maddin said: “Premier is a highly successful business and has built a first-class track record of providing sustainable infrastructure solutions. Working with the Premier Modular team for two years now, it’s their culture of delivering excellence in tight timeframes which keeps them competitive. That’s playing its part in the company’s expansion both at home and in Europe with the launch of Premier Modular BV. We look forward to continuing to be involved in the next stage of their growth alongside management and MML Capital Partners.”
Premier Modular chief executive David Harris said: “MML’s investment means we now continue to grow our best-in-class fleet, expand the range of funding structures we offer our clients, and accelerate our expansion into Europe following client demand. The combination of financial firepower and infrastructure expertise will be invaluable as we continue to drive Premier forward.”
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