McAvoy Group eyeing UK expansion
The McAvoy Group has said it’s making a multi-million pound investment in developing a range of modular buildings.
With its new SmartSpace product, the Lisburn firm will double its semi-permanent fleet capacity and create 50 jobs.
The business, which was acquired by funds managed by Blantyre Capital in February 2020, supplies modular buildings across numerous sectors including education and healthcare.
Chief executive Ron Clarke said the investment had been prompted by strong demand.
He added: “The investment will be made over a period of two years and will include ongoing research and development, manufacturing and the implementation of additional infrastructure in terms of people, factory equipment and technology.
“We envisage the creation of this additional capacity will help drive the planned growth of our business in the UK. We see significant opportunities to increase market share.”
He said orders and research had shown high demand for semi-permanent buildings across many sectors, with growth in the pharma, manufacturing and technology industries.
The SmartSpace product is one of the newest in the sector in Ireland and the UK. “Designed and built to enhance energy and fire protection standards, this product provides our customers sustainable and adaptable space solutions,” Mr Clarke said.
The company plans to invest further across its operations over the next three years.
Modular rental and sales director Glen Busby said the first of the new units would be deployed later this month as part of a major health project in England.
He added: “This investment has the potential to be a real game-changer for McAvoy in the modular rental and sales sector. Our ambition is to significantly increase our market share and to be known as a UK and Irish market leader in the supply of high-quality permanent and semi-permanent accommodation for rental or sale.
“We believe our SmartSpace proposition to be amongst the very best available, and with almost 50 years’ experience we have a track record and understanding of the modular off-site industry that is second to none.”
McAvoy said it had reported positive financial results for the six months to April 30 last year, with a 30% year-on-year increase in revenue. It added it would deliver revenues ahead of budget this year.
Among its biggest projects is a new innovation centre at Porton Science Park in England.