McAvoy, which produces both permanent and temporary modular buildings, has been sold to Duke Street, an investment company that focuses on companies with an enterprise value between €50m and €350m.
The building firm has experienced growth in revenues in recent years, with the accounts for the year ending April 2024 for McAvoy Holdings posting a turnover of £75m, up from £59m the prior year.
It has more than 160 employees in five locations across Ireland and the UK, including its headquarters in Lisburn where it can design and manufacture 1,200 modules per year.
The company’s clients, which include firms in the health, education and pharmaceutical fields, receive modules that are often over 70% complete by the time they leave the factory
Merstham Park School; a new secondary school building located in Redhill, Surrey, England with buildings from McAvoy.
It has been owned by Blantyre Capital for the past five years, during which time it “experienced substantial growth and profitability improvements, reflecting increased demand.”
Ron Clarke, CEO of McAvoy, said: “Securing the backing and support of Duke Street, one of Europe’s most well-respected investors, underscores the strength of our proposition.
“They join at a critical time in the modular building industry, when the need for high-quality solutions has never been higher.
“Our company is uniquely positioned for further growth with a model that combines operational excellence, sophisticated design and deep sector expertise.
Ron Clarke, McAvoy Group chief executive
“We thank Blantyre for their commitment and support over the past five years. Together, we have achieved significant growth, establishing McAvoy as a trusted provider of high-quality, adaptable modular buildings across the UK and Ireland.”
Joe Thompson, partner at Duke Street, says: “McAvoy is a sustainable, well-capitalised and market-leading business that has a strong reputation for building premium modular solutions.
“In the last few years, the exceptional management team, led by CEO Ron Clarke, has successfully taken to market a new and differentiated modular product, SmartSpace, that exceeds building regulation requirements.
“Duke Street’s acquisition of McAvoy complements our long-held investment focus in essential social infrastructure services that provide the backbone to the economy.”
McAvoy provided buildings for Lister Community Secondary School; a new performing arts wing extension to the existing school located in the London Borough of Newham, England.
Johann Scheid, investment director at Blantyre, said: “We are delighted to have partnered with Ron and his outstanding team at McAvoy.
“Over the past five years, McAvoy has undergone a transformational period, successfully launching SmartSpace and expanding its modular rental fleet while delivering a broad range of new permanent modular buildings across education, healthcare, and other key sectors.
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“We are confident that McAvoy has found an excellent new home in Duke Street for its next chapter of growth.
“We wish the company, its management, staff, and new shareholders every success in the future.”
