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Sat February 16 2019

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BAM buys stake in Irish modular homes business

25 Jan Royal BAM Group’s Irish operating company has bought a stake in modular homes specialist Modern Homes Ireland (MHI).

MHI builds steel-framed homes and commercial buildings that are completed to up to 95% before leaving the factory.

BAM said that it has taken the strategic step to enhance and maximise business opportunities for both companies in the Irish construction sector.

MHI was established in 2016 and has completed more than 400 residential units since then, mainly in the Leinster area. It is based in Ballyjamesduff where it employs 120 people with a current capacity of more than 500 units annually and it is led by its founding shareholder team of joint managing directors Chris Curtis and Stephen McManmon and executive directors Adrian McNally and Brendan McNally.

Following BAM’s investment MHI will further increase its production capacity in Ballyjamesduff.

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BAM said that it will also bring expertise and experience that will enable MHI to bid for larger projects. This step also allows MHI access to BAM’s modular business in the Netherlands, where BAM Modulair Bouwen en Ontwikkelen has production facilities in Veenendaal. The aim is for MHI to develop innovative elements for new-build and renovation projects in both the residential and non-residential markets.

Theo Cullinane, CEO of BAM Ireland, said: “This is a significant strategic investment for BAM. We are cognisant of the need for an acceleration of output in the housing sector and we are happy that our investment will play a part in the solution to the current housing crisis in the country. Modular is clearly the future and this is a unique opportunity to further develop a business, not just in housing but in modular housing which aligns closely with our drive towards ‘digital construction’.”

MHI joint managing director Chris Curtis said: “We are very pleased to have entered into this strategic partnership with an industry leader in BAM, which will allow us to grow further and benefit from the vast experience that they will bring to us. This significant investment further confirms that off-site construction is the future of housing and that our firm is at the forefront. This collaboration is the foundation for an exciting future ahead for MHI.”

MPU

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