What's Happening?
Duke Street Capital, a private equity firm, has acquired McAvoy, a modular offsite building specialist, for an undisclosed sum. McAvoy, founded in 1972, designs and manufactures modular buildings for sectors such as healthcare, education, and commercial industries across the UK and Ireland. The acquisition comes at a critical time for the modular building industry, with McAvoy recently securing significant contracts, including a £36.3 million deal with the Department for Education.
Why It's Important?
The acquisition of McAvoy by Duke Street Capital highlights the growing interest in modular construction, which offers benefits such as reduced construction time and increased sustainability. This move could enhance McAvoy's growth and innovation in the modular building sector, potentially influencing construction practices and policies. The investment also reflects the increasing demand for efficient and flexible building solutions in response to evolving market needs.
