East Yorkshire-based Premier Modular Group – of which Premier Modular Limited is a wholly-owned subsidiary – has attracted a new investor.
MML Capital Partners has taken an equal majority shareholding with the incumbent, Cabot Square Capital, with a minority shareholding continuing to be held by Premier Modular’s leadership team.
Premier Modular has grown from a business established back in the 1950s to become a market-leader in providing bespoke, premium, modular rental, leasing and permanent buildings.
Having enjoyed many years of record growth, in the last four years alone, Premier’s rental fleet has expanded by 50% and this new investment by MML will fuel Premier Modular’s ambitions to make world-class facilities more widely available in its domestic and European markets.
Investor, Cabot Square Capital has seen a robust return on its investment since it acquired Premier Modular in 2021 – all driven by growth in turnover from both the public and private sectors.
“Premier Modular is already a well-run company, as seen in the great performance in recent years,” says 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 and dealing with shorter term changes in societal needs. In that context, Premier is at the vanguard of enabling this change in sustainable and affordable ways.”
Keith Maddin, partner, Cabot Square Capital, 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 its growth alongside management and MML Capital Partners.”
David Harris, Premier Modular Group’s CEO, 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.”
