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Mon June 27 2022

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ISG buys modular builder

30 Mar ISG has acquired a majority shareholding in ESS Group, a modular building specialist based in Dublin and Manchester.

ESS make prefabricated building systems
ESS make prefabricated building systems

The companies said that ISG’s financial strength would help ESS to grow, with a focus on public sector frameworks.

ISG is owned by Cathexis, the investment vehicle of Texan billionaire William Harrison.

Founded in 1989, ESS Group employs more than 280 staff based in four offices and three manufacturing facilities across the UK and Ireland. It includes the ESS Modular and Spatial Initiative brands, supplying volumetric building components manufactured offsite for clients in the public sector, healthcare and commercial markets.

ESS chief executive Paul Tierney said: “The ISG investment is a pivotal moment for the ESS Group, giving us a solid financial platform for our continued growth plans.  We passionately believe in a better way and have been working for the last 30 years to bring our high-quality offering to clients.  We are looking forward to what we are sure will be an exciting time for the industry as we see MMC (modern methods of construction) continue to transform customer outcomes and expectations in the drive towards a net zero future.”

ISG chief executive Matt Blowers said: “Greater integration and collaboration are two ways that our industry can accelerate its performance to meet the growing demand for net zero construction solutions. The ESS Group brings a wealth of expertise, talent and innovation into ISG and enables us to collectively fast-track our journey developing and implementing leading-edge built solutions that are rooted in operational performance and the highest sustainable and ethical outcomes.” 

Financial details were not disclosed.

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