Cabot Square Capital says covid has driven surge in offsite construction
Investment firm Cabot Square Capital has acquired a majority shareholding in offsite construction specialist Premier Modular, which is currently working on a range of schemes including the construction of covid-19 testing sites.
Premier Modular last month said pre-tax profit was up 23.2% to 拢7m on turnover up a quarter at 拢65.7m in the year to June 2020.
High-profile schemes delivered by the East Yorkshire firm include a 拢50m project to provide office and welfare buildings at the Hinkley Point nuclear power plant in Somerset, awarded to the business under the name of Waco UK.
In addition, to a multi-million-pound contract for the rapid construction of coronavirus testing sites, Premier Modular has just been awarded a 拢7m contract for a 62-bed ward building at St Peter鈥檚 Hospital in Chertsey, Surrey.
It is also working on several apartment schemes following its expansion into the residential sector last year.
Cabot Square partner Keith Maddin said the investment firm鈥檚 portfolio already included NetZero 黑洞社区s, which manufactures energy-efficient buildings for the public sector, and Public Sector Plc 鈥� a specialist asset manager that partners with local government and housing providers.
鈥淢MC and offsite manufacturing are revolutionising the construction industry,鈥� he said.
鈥淲e are seeing significant growth as more public and private sector clients develop a deeper understanding of the speed, quality, cost, environmental and social benefits of moving construction into a controlled factory setting.
鈥淭here has also been a surge in interest in offsite following the covid-19 pandemic as more construction clients and contractors recognise how the approach can reduce risk and disruption on site.鈥�
Maddin said Premier was a high-performing, profitable business that manufactured high-quality building solutions and continued to expand its hire fleet.
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