Modulaire Group ("Modulaire") is a leading modular space leasing business in Europe and Asia Pacific In Europe, with over 250,000 modular space and storage units, Modulaire has the largest fleet base amongst its competitors and has a strong market leading position. Modulaire operates as Algeco in Continental Europe, Elliott in the United Kingdom, Ausco in Australia and Portacom in New Zealand.
We acquired Algeco in 2004. The investment thesis behind our original acquisition was the inherent value dislocation between the leasing earnings and sales earnings.
Through a series of acquisitions, we grew Algeco from being the French market leader to the predominant global player in modular space, Modulaire Group. In November 2017, we completed the spin out of Williams Scotsman, the North American modular leasing business, into a listed entity, positioning it strongly to participate in the US market consolidation. Subsequently, in March 2019, we completed the spin out of Target Lodging (the North American Remote Accommodation business) into a listed vehicle combining it with Signor Holdings to form a new leader in remote workforce accommodation - Target Hospitality.
During TDR’s ownership we have repositioned the business away from manufacturing and sales towards a more sustainable and profitable rental model. In parallel, we have refocused the company’s sales and marketing efforts, as well as developing new sectors and new applications for modular solutions.
We have grown the business globally through acquisition and have developed it organically, in particular through the introduction of value-added products and services.
During 2019 and 2020 Modulaire accelerated its European market consolidation strategy, completing eight add-on acquisitions and building a significant presence in the highly attractive Nordics market.
In June 2021, TDR signed an agreement to sell the business to Brookfield Business Partners for €4.3 billion with the transaction expected to close in Q4 2021.
We acquired Algeco in 2004. The investment thesis behind our original acquisition was the inherent value dislocation between the leasing earnings and sales earnings.
Through a series of acquisitions, we grew Algeco from being the French market leader to the predominant global player in modular space, Modulaire Group. In November 2017, we completed the spin out of Williams Scotsman, the North American modular leasing business, into a listed entity, positioning it strongly to participate in the US market consolidation. Subsequently, in March 2019, we completed the spin out of Target Lodging (the North American Remote Accommodation business) into a listed vehicle combining it with Signor Holdings to form a new leader in remote workforce accommodation - Target Hospitality.
During TDR’s ownership we have repositioned the business away from manufacturing and sales towards a more sustainable and profitable rental model. In parallel, we have refocused the company’s sales and marketing efforts, as well as developing new sectors and new applications for modular solutions.
We have grown the business globally through acquisition and have developed it organically, in particular through the introduction of value-added products and services.
During 2019 and 2020 Modulaire accelerated its European market consolidation strategy, completing eight add-on acquisitions and building a significant presence in the highly attractive Nordics market.
In June 2021, TDR signed an agreement to sell the business to Brookfield Business Partners for €4.3 billion with the transaction expected to close in Q4 2021.
Investors 1
| Date | Name | Website |
| 16.01.2021 | TDR Capita... | tdrcapital... |
Mentions in press and media 7
| Date | Title | Description |
| 13.08.2025 | Modulaire Group announces CEO transition | LONDON, Aug. 13, 2025 /PRNewswire/ -- Modulaire Group, Europe and Asia Pacific's leading business services company specialising in modular services and infrastructure, has today announced that Pavan Pattada has decided to step down to retur... |
| 23.01.2025 | IFS announces outstanding 2024 financial results driven by increase in demand for Industrial AI | IFS surpasses €1 billion ARR reinforcing the company's position as the global leader in Industrial AI LONDON, Jan. 23, 2025 /PRNewswire/ -- IFS, the leading provider of enterprise cloud and Industrial AI software, today announces its strong... |
| 23.01.2025 | IFS announces outstanding 2024 financial results driven by increase in demand for Industrial AI | IFS announces outstanding 2024 financial results driven by increase in demand for Industrial AI Thu, Jan 23, 2025 10:27 CET Report this content IFS surpasses €1 billion ARR reinforcing the company’s position as the global leader in Industri... |
| 06.06.2024 | Modulaire Group to appoint new CEO | LONDON, June 6, 2024 /PRNewswire/ -- Modulaire Group, Europe and Asia Pacific's leading business services company specialising in modular services and infrastructure, is pleased to announce the appointment of Pavan Pattada as Group Chief Ex... |
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| 28.06.2021 | How will Benchmark change with this new era of venture capital? | This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. Paid Content Why today's marketers need strong collaboration tools From Optimizely The pandemic h... |
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