Growing group eyes MMC sector

Modular Group Investments (MGI) has acquired the entire share capital of Rapid PVCU Systems, a 12-year-old fenestration fabricator in Doncaster, South Yorkshire.

The acquisition follows the recent purchase of 3,000 frames per week fabricator Euramax Solutions, creating a combined fenestration business with 2021 revenues forecast around £40 million, and with customers across leisure, modern methods of construction (MMC), retail merchants, and newbuild.

Michael Garratt, founder/CEO at 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. We are delighted to be working with the experienced fabrication and installation teams at Rapid and look forward to a bright future together.”

Nick Cowley, MGI Group MD, said: “This acquisition will create integration, scale and diversification 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.”

The company said one strategy was to position itself in the quickly growing offsite/MMC sector.

Chris Butters, chair at MGI, said: “We believe that the long-term needs across UK housing and construction sectors will support the momentum and innovation which fuels the very strong demand traction where MGI operates.”