Rapid Growth - MGI Nabs Another Fenco After Euromax Acquisition

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Modular Group Investments has strengthened its fenestration business with the purchase of Rapid PVCU Systems.

The company, also known as MGI, is a fast-growing group of businesses in the UK offsite and modular manufacturing sectors.

The Group has completed the next stage of its acquisition strategy with the purchase of the entire share capital of Rapid - a 12-year-old fenestration fabricator based in Doncaster.

Euramax

The acquisition follows hot on the heels of the recent purchase of 3,000 frames per week fabricator Euramax Solutions. The combined fenestration business with 2021 revenues is forecasted at around £40 million.

 “This acquisition will significantly increase the productive capacity of the MGI fenestration business and diversify the customer base. It will also allow Rapid to expand and develop to better serve the needs of its customer including those in the new build sector.”

– Michael Garratt 

CEO, MGI

Acquisition trail

Nick Cowley, MGI Group MD (and formerly MD of Euromax) said: “This acquisition will create integration, scale and diversification benefits across our fenestration businesses and provides MGI with a larger capacity to develop new products and to work closely with customers to meet their changing needs.”

Chris Butters, Chair at MGI said: “We look forward to further transactions which will add value to our strategic positioning in the quickly growing offsite/ Modern Methods of Construction sector. We believe that the long-term needs across UK housing and construction sectors will support the momentum and innovation which fuels the very strong demand traction where MGI operates.”

Picture: Michael Garratt, founder and CEO at MGI.

Article written by Cathryn Ellis
22nd April 2021

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