M&A Deal Summary

Brookfield Business Partners Acquires Modulaire Group

On June 27, 2021, Brookfield Business Partners acquired real estate company Modulaire Group from TDR Capital for 5.0B USD

Acquisition Highlights
  • This is Brookfield Business Partners’ 1st transaction in the Real Estate sector.
  • This is Brookfield Business Partners’ 4th largest (disclosed) transaction.
  • This is Brookfield Business Partners’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2021-06-27
Target Modulaire Group
Sector Real Estate
Buyer(s) Brookfield Business Partners
Sellers(s) TDR Capital
Deal Type Add-on Acquisition
Deal Value 5.0B USD

Target

Modulaire Group

London, United Kingdom
Modulaire Group creates smart spaces for people to live, work, and learn. Modulaire Group has operations in 25 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. Modulaire Group operates as Algeco in Europe and Scandinavia, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels, and BUKO Bouwsystemen in The Netherlands, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China. Modulaire Group is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Brookfield Business Partners

Hamilton, Bermuda

Category Company
Sector Business Services
Employees67,315
Revenue 55.1B USD (2023)
DESCRIPTION

Brookfield Business Partners acquires high-quality businesses and applies its global investing and operational expertise to create value, with a focus on profitability, sustainable margins, and sustainable cash flows. Brookfield Business Partners has the flexibility to invest across multiple industries and through many forms. Brookfield Business Partners is based in Hamilton, Bermuda.


DEAL STATS #
Overall 3 of 8
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 1 of 4
Country (United Kingdom) 1 of 1
Year (2021) 1 of 3
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 Nova Cold Logistics

Brampton, Ontario, Canada

Nova Cold Logistics is a cold storage platform provider. Nova Cold Logistics offers modern cold storage facilities, superior customer care and service, CFIA establishments and a long-term partnership approach that aims to maximize your success. Nova Cold Logistics is based in Brampton, Ontario.

Sell CA$337M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-05 DexKo Global

Novi, Michigan, United States

DexKo Global is a provider of highly engineered running gear technology, chassis assemblies, and related components with over 130 years of trailer and caravan componentry experience. DexKo Global was founded in 2015 and is based in Novi, Michigan.

Buy $3.4B

Seller(S) 1

SELLER

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 15.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.


DEAL STATS #
Overall 13 of 14
Sector (Real Estate) 3 of 3
Type (Add-on Acquisition) 4 of 5
Country (United Kingdom) 9 of 9
Year (2021) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 BPP

London, United Kingdom

BPP Holdings provides education and training in law, business, finance, accountancy, banking, technology and nursing both through relationships with corporates and directly to consumers across test preparation, university, apprenticeship and professional development. BPP Holdings was formed in 1976 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-16 Aggreko

Dumbarton, United Kingdom

Aggreko is a global provider of mobile modular power, temperature control and energy services, including micro grids and remote monitoring, to commercial and industrial customers serving multiple end markets across operations in 80 countries. Aggreko was founded in 1962 and is based in Dumbarton, United Kingdom.

Buy £2.3B