The Modular Group strengthens its Spanish activity with the acquisition of Balat

LONDON, November 19, 2021 / PRNewswire / – Modulaire Group, a leading business services company specializing in modular space, is pleased to announce that it has agreed to acquire Alquibalat, SL (“Balat”) in Spain.

Based in Pamplona, ​​Balat is a leader in the Spanish modular building rental and sale market, with a strong presence in the construction sector. It operates more than 15,000 units on 15 sites in Spain and Portugal, including in Madrid, Barcelona, Bilbao, A Coruña, Malaga, Seville, and Valence.

Balat achieved a turnover of 32 million euros in 2020 and has around 165 employees. The transaction, which remains subject to review by CNMC, the Spanish competition authority, is expected to be finalized by spring 2022.

Mark Higson, CEO of the Modular Group, declared: “We are delighted to confirm the transaction with Balat, a leader in modular buildings in the growing Spanish market. The strength of the company is testament to the experience and hard work of management. I look forward to working with the team.

Rafael Baranda, the CEO of Balat said: “We believe that the acquisition by Modulaire Group will strengthen Balat’s future, support the next phases of growth and provide the Balat team with new career development opportunities. We would like to take this opportunity to thank our professionals for their hard work and commitment in developing Balat’s business.

The acquisition of Balat will be Groupe Modulaire’s fourth acquisition in 2021 and the tenth global acquisition since early 2020. A targeted acquisition strategy remains one of Groupe Modulaire’s four strategic objectives, alongside an effective cost base , a focus on sales optimization and granular management. branch level performance and efficient capital investment.

About the Modular Group
The Modular Group is a European leader in modular infrastructure and services. We create smart spaces for people to live, work and learn. Our company is designed to help customers find the right space solution, whatever their requirements. The Modular Group is present in 25 countries with approximately 267,000 modular spaces and portable storage units and 4,400 remote accommodation rooms. The company operates under the Algeco name in Europe and Scandinavia, Elliott, Advanté, Carter and Procomm in the UK, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen at The Netherlands, Tecnifor and Locabox in Italy, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For more information:
Investor Relations: Phil vellacott
[email protected]
07841 563541

Media inquiries: Tulchan Communications
[email protected]
0207 353 4200

Modular SOURCE Group