Modular Group Investments, which earlier this year bought Barnsley-based Euramax, has now acquired Rapid PVCU Systems, a 1,500 frames/week Eurocell fabricator based in nearby Doncaster.
The move, along with the Euramax purchase (read story) creates a group with forecast revenues around £40m and with customers across leisure, MMC, retail merchants and new build.
Michael Garratt, pictured, founder and CEO of MGI said: “This exciting acquisition will significantly increase the productive capacity of the MGI fenestration business and diversify the customer base. It will also allow Rapid to expand and develop to better serve the needs of its customers.”
Group MD Nick Cowley added: “This acquisition will create integration, scale and diversifica tion benefits across our fenestration businesses and provides MGI a larger capacity to develop new products, to deliver unrivalled excellence and to work closely with customers to meet their changing needs.”
MGI is a group of businesses with the goal of making a positive contribution with the UK offsite and modular manufacturing sectors and across the diverse SME supply chain of mission-critical components in synergistic markets. The group says it continues to develop a buy-and-build strategy, which will focus on the offsite/MMC sectors and components, but recognises the scale and opportunities to also supply the traditional construction sectors.
The RAPID transaction closed on 1 April 2021. MGI were advised by Hempsons (legal), TML Finance and Advisory (finance) and TC Group (Accounting).