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great news in modular space this week.



Our Modular Space team is celebrating yet more positive news coverage this week. As a business, we are delighted to see that modular construction in the UK and Europe is getting the recognition that it warrants. The three articles that have set our tongues wagging this week are detailed below.

1. House-builder Persimmon has invested £25M in the modular space [1].

Modular housebuilder TopHat has successfully secured £70M worth of additional investment, which includes £25M by large-scale house-builder Persimmon. This investment will allow the company to open a new 65,000 square feet manufacturing facility in Corby, Northampton, that will be capable of producing up to 4,000 new ultra-low carbon homes each year, starting from next year. 

This new factory will supply Persimmon with energy-efficient modular units and TopHat's innovative brick façade, which will be used extensively within their Space4 timber frame product ranges. This will allow the leading housebuilder to expand their product range and effectively manage the issues faced by ongoing labour shortages within the construction industry.

This investment has also allowed TopHat to make new predictions for strong profitability within the next 3 years, despite currently operating at a loss. It is clear, therefore, that this partnership will be hugely beneficial for both businesses and the local economy as the new factory will also offer exciting career opportunities for circa 1000 people who will work alongside innovative house-building robots on large scale projects.

2. Portakabin has acquired Darwin Group, a healthcare modular specialist [2].

Portakabin's acquisition of Darwin Group will allow the firm to develop its long-term strategic objectives for growth, enabling it to meet increased demand for both temporary and permanent construction solutions across the whole of Europe.

The modular healthcare firm reported an £80M turnover last year and this strategic acquisition by Portakabin will allow the company to deliver a comprehensive range of products into the healthcare environment that will enhance patient care and deliver improved facilities for clinicians.

3. Wernick Group commits to further investment [3]. 

Wernick Group has been making significant investments in their products and infrastructure over the last five years, seeing it as the key to delivering a prosperous future for the business and its customers. 

This week it has announced further plans to invest a minimum of £30M this year which will be spent on increasing the size of its hire fleet. This investment is on top of the £200M that it has already invested into acquisitions and product development. The company has already added 14,000 buildings and 4,000 generators to its expansive product portfolio which spans the three hire companies that are owned by the group.

Wernick Group's capacity for growth is hugely impressive and speaks of its confidence in the future of the modular building industry.

Summary

Seeing continued investment on a scale such as this is excellent news for our industry, representing renewed confidence in the future of modular construction in the UK. Each of these projects will no doubt create additional jobs for local people, both in front line construction in addition to supporting functions such as project management, inventory and asset accounting, HR and quality assurance.

We are certain that the opportunities offered by the construction industry to be at the forefront of modern building techniques, including robotics, will be a catalyst for renewed interest in the sector by graduates and apprentices. With the current workforce reported as ageing and new challenges on the horizon, as much as possible should be done now to encourage the next generation to enter the workforce. Facilitating their involvement in exciting projects such as these is a superb way of easing them onto what should be a long-term and fulfilling career path.

For companies that are seeking experienced project support to help them to launch merger or acquisition activity within the construction sector, or who require dedicated talent to supplement their modular construction teams, Build Space can help. Our range of talent solutions is targeted to the individual needs of your business and we can support you to achieve your strategic objectives, this year and into the future.

Resources:

[1] https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.constructionenquirer.com%2F2023%2F04%2F25%2Fpersimmon-invests-in-modular-house-builder-top-hat%2F&data=05%7C01%7Calex.c%40buildspaceuk.com%7C26c2bb94b0194f10b68b08db4a2e1e5a%7C51269f409fc64a53a9d2cfd8ce73f170%7C0%7C0%7C638185334151975701%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=KgFtgjYuOHG8P0jK63%2BCH1x6I%2FQxtKmaGadQNUXjXbU%3D&reserved=0 
[2] https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.constructionenquirer.com%2F2023%2F04%2F21%2Fportakabin-buys-80m-sales-modular-healthcare-firm%2F&data=05%7C01%7Calex.c%40buildspaceuk.com%7C26c2bb94b0194f10b68b08db4a2e1e5a%7C51269f409fc64a53a9d2cfd8ce73f170%7C0%7C0%7C638185334151975701%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=WN5Ltnss%2Fc7By0Z2nrI8iiMv9U6NX2UjBNyOi6A%2BHN8%3D&reserved=0 
[3] https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.constructionenquirer.com%2F2023%2F04%2F21%2Fwernick-group-to-invest-another-30m-this-year%2F&data=05%7C01%7Calex.c%40buildspaceuk.com%7C26c2bb94b0194f10b68b08db4a2e1e5a%7C51269f409fc64a53a9d2cfd8ce73f170%7C0%7C0%7C638185334151975701%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=YbmjSzG0vhAXAb3nzQetiKnu34O5q%2FZx%2B42E9ohzYvE%3D&reserved=0

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