East Yorkshire off-site construction specialist Premier Modular has been bought out on a large scale.

The London-based investment house Cabot Square has chosen the Brandesburton business, a Halo company in the Covid crisis.

The pandemic created more than 100 new jobs as the move to remote buildings accelerated and demand increased and employed more than 250 people.

It has provided test centers nationwide while playing a key role in expanding the capacity of hospitals across the country.

The Premier, founded in 1956, was part of the South African Waco International Group.

Keith Maddin, Partner in Cabot Square, said, “Modern methods and off-site manufacturing are revolutionizing the construction industry. We’re seeing significant growth as more public and private sector customers develop a deeper understanding of the speed, quality, cost, environmental and social benefits of moving structures into a controlled factory environment.

“After the Covid-19 pandemic, interest in off-site systems has also increased, as more and more construction customers and contractors are realizing how the approach can reduce risks and disruptions on site.

The Premier Modular Management Team led by David Harris, General Manager, Center.

“Premier is a high performing, profitable company that manufactures high quality building solutions and continues to expand its rental fleet – already one of the newest in the UK. We look forward to working with the excellent management team and supporting the company in the next phase of growth, including sectoral and geographic expansion. “

The independent investment capital provider has been active for 25 years. The portfolio includes NetZero Buildings, a fast growing offsite manufacturer of energy efficient buildings for the public sector, and Public Sector Plc – a specialist asset manager who works with local government and housing providers.

Premier has just completed a £ 7.5 million emergency shelter program for Buckinghamshire Council. Further projects are ongoing.

Last month, sales of £ 65.3m posted profits of £ 10.6m to meet a stated nine-digit target.

Continue reading
Continue reading

David Harris, Managing Director of Premier Modular said, “This new investment will bring even more stability and continuity to our business, which will benefit our colleagues, customers, the supply chain and strategic partners. We look forward to working with Cabot Square and an extremely successful and productive business partnership.

“We have a clear vision and strategy for the next phase of our growth and have ambitious plans to grow sales to £ 100 million within three years to provide our shareholders with a healthy return.”

Premier was advised by Stephens, Eversheds Sutherland, KPMG and CIL.

Herbert Smith Freehills and EY played for Cabot Square. The deal value is unknown.