Modulaire is a leading provider of modular leasing services in
“We are pleased to expand our European operations with the acquisition of Modulaire, a market leader in the attractive, growing modular workspace sector,” said
Investment Highlights
- Leading market position. Modulaire is a market leader in Europe’s largest economies. Its large-scale branch network and differentiated service offerings contribute to strong, longstanding relationships with a diverse customer base.
- Stable and diversified cashflows. Modulaire is geographically diversified with significant exposure to stable infrastructure, public sector and industrial end markets supported by strong underlying demand and low customer concentration.
- Favorable market dynamics. Modular spaces meet a structural shift in customer demand for flexible and sustainable solutions with smaller carbon footprints. The business is well positioned to benefit from industry tailwinds including growing infrastructure and public sector investment, and where there is increased demand for leasing or modular solutions to replace permanent construction.
- Opportunities for growth and margin expansion. Modulaire will continue to focus on acquisition and new market entry opportunities, branch network expansion across
Europe , operational improvements and growth of ancillary services. - Commitment to sustainability. Modulaire has a longstanding, demonstrated commitment to sustainable operations as modular spaces are reusable and reconfigurable, reducing waste and maximizing their useful life.
Funding
Brookfield’s investment will be funded with approximately
Transaction Process
Closing of the transaction remains subject to customary closing conditions including regulatory approvals. Closing is expected by the end of 2021.
For more information, please contact:
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of Section 27A of the
Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of
Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; including as a result of the ongoing novel coronavirus pandemic (“COVID-19”); the behavior of financial markets, including fluctuations in interest and foreign exchange rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the ability to appropriately manage human capital; the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation within the countries in which we operate; governmental investigations; litigation; changes in tax laws; ability to collect amounts owed; catastrophic events, such as earthquakes; hurricanes and pandemics/epidemics; the possible impact of international conflicts and other developments including terrorist acts and cyber terrorism; and other risks and factors detailed from time to time in our documents filed with the securities regulators in
In addition, our future results may be impacted by the government mandated economic restrictions resulting from COVID-19 and the related global reduction in commerce and travel and substantial volatility in stock markets worldwide, which may negatively impact our revenues, affect our ability to identify and complete future transactions, impact our liquidity position and result in a decrease of cash flows and impairment losses and/or revaluations on our investments and assets, and therefore we may be unable to achieve our expected returns. See “Risks Associated with the COVID-19 Pandemic” in the “Risks Factors” section included in our Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Form 20-F for the year ended
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law,
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