Money Buzz! Europa

Tag: Algeco

  • Algeco completed the acquisition of Wexus Group

    Algeco completed the acquisition of Wexus Group

    Algeco, the leading modular space leasing business in Europe and Asia Pacific, completed the acquisition of Wexus Group.

    This follows the announcement on 4 June 2020 that Algeco had agreed to acquire Wexus from Norvestor Equity AS and other shareholders.

    The transaction was subject to review by the Norwegian competition authority, which has now approved the acquisition.

    This transaction will further strengthen Algeco’s position in the attractive Nordic modular space market that has grown at a CAGR of 12% from 2015 to 2018.

    Growth is expected to continue to be driven by long-term public sector contracts and infrastructure investment.

    Who is Wexus

    The company is a leading provider of high-quality modular building solutions in the Nordic region. Headquartered in Norway, also has operations in Sweden and a modern wooden module production facility in Estonia that can support Algeco’s enlarged business.

    Wexus operates a fleet of c. 1,600 units, has c. 110 employees and revenues of c. €35m in the twelve months to March 2020.

  • Algeco announces the acquisition of the French business, Altempo SAS

    Algeco announces the acquisition of the French business, Altempo SAS

    Algeco Group, the leading modular space leasing business in Europe and Asia Pacific, announces the acquisition of the French business, Altempo SAS.

    Altempo specialises in large, complex tenders which require bespoke solutions and innovative service offerings, and its acquisition will enable Algeco to participate more effectively in this attractive segment of the French modular space market.

    Altempo operates a fleet of c. 3,000 units, has 61 employees and revenues of c. €25 million.  

    Mike Smith, Chairman of Algeco, said: “Altempo will be an excellent addition to our market-leading business in France. Under the leadership of Thierry Munier, Altempo has developed a compelling and well-differentiated offering that is underpinned by constant innovation across its products, components and services. I am delighted that Thierry will remain with Algeco and continue to lead this business.”

    Who is Altempo

    Altempo operates solely in France and designs, builds and manages temporary installations. Altempo is focused on providing fully integrated service offerings to large customers and the majority of its clients are based in Paris and in Lyon. Altempo has one site near Colmar with 61 employees.

    Algeco leads Europe modular space business

    Headquartered in London, Algeco has operations in 22 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodation rooms.

    The company operates as Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand and Algeco Chengdong in China.