Sale of temporary accommodation hire business to multi-national group
We have advised Connection Capital and the shareholders of Carter Accommodation Group Limited on the sale to Modulaire Group, the leading modular space leasing business in Europe and Asia Pacific.
Employing approximately 150 people, Carter Accommodation Group Ltd (Carter) is a market leader in the UK’s temporary accommodation hire sector. They run over 5,000 modern and versatile units supplying customers in the construction, infrastructure, leisure, education, agriculture, energy and health sectors. Their product range includes high-spec temporary modular buildings for use as offices, labs, wards or classrooms. They also offer cabins, containers, welfare units and energy-efficient eco units.
Modulaire Group has operations in 25 countries; this deal marks their seventh acquisition worldwide since the beginning of 2020. Connection Capital first invested in Carter via a management buy-out in 2015. As part of this sale, Carter's experienced management team will remain with the business which will operate in the UK alongside other Modulaire Group businesses.
Corporate partner, Victoria Elliott, who led a multi-disciplinary Gateley team on the deal, commented: “We were delighted to act for long-standing client Connection Capital along with the other Carter shareholders on this deal. With Modulaire’s backing, the management team will continue to take the business from strength to strength.”
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