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TDR Capital Bidco Closes Acquisition of French Mobile Equipment Supplier Touax's Modular Division Europe.

M2 EQUITYBITES-December 15, 2017-TDR Capital Bidco Closes Acquisition of French Mobile Equipment Supplier Touax's Modular Division Europe


15 December 2017 - UK-based private equity firm TDR Capital LLP's company US-based WH Bidco SAS has closed the acquisition of the Modular Building Activities in Europe division of France-based operational leasing supplier of mobile equipment Touax, including all stocks held in TouaxSolutions Modulaires SAS (TSM), the company said.

The deal has been completed at an enterprise value of EUR 165m (USD 194.64m).

After the potential purchase, TDR could integrate TSM into the European business of TDR-owned modular space solutions provider Algeco Scotsman, located in the US.

The integration of TSM into Algeco would strengthen the new group's leadership and improve the quality of products and services to reach more customers, increasing competitiveness through an enhanced catalogue.

Algeco Scotsman is a business services provider focused on modular space, secure portable storage solutions, and remote workforce accommodation management.

The company has operations in 25 countries with a modular fleet of approximately 274,000 units. The company operates as Williams Scotsman and Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

Touax Group (NYSE EURONEXT Euronext Paris Compartment C: Code ISIN FR0000033003) (EnterNext: PEA-PME) eases out tangible assets (shipping-containers, modular buildings, freight railcars and river barges) to more than 5000 customers throughout the world. Touax has almost EUR 1.8bn under management.

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Publication:M2 EquityBites (EQB)
Date:Dec 15, 2017
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