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Sat March 06 2021

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Ideal Modular restructured in pre-pack deal

10 Dec 20 Liverpool-based Ideal Modular Homes has been put through a quick pre-pack administration and restructuring.

Ideal Modular Homes' factory is on Liverpool's Triumph Business Park
Ideal Modular Homes' factory is on Liverpool's Triumph Business Park

While the business has continued to trade, it is now under new management and new ownership.

Assets and employees have transferred from the legal entity Ideal Modules Limited into a new legal entity, IDMH Limited.

Former major shareholder Luke Barnes, who set up the business in 2017 while still in his twenties, has now left the business.

The new owners are Christopher Snape and Tom White; the latter, a former JP Morgan banker, was a non-executive director and minor shareholder of the previous business and now takes over as chief executive.  

As previously reported, Ideal Modular Homes has a deal with A&E Elkins to deliver factory built housing to the Royal Borough of Greenwich in London. It is also an approved framework supplier to Hyde Group housing association and Gateshead Council.

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