Swedish listed property company Kungsleden has acquired the Swedish property company Nordic Modular Group (NMG) from the private equity firm 3i for EUR 100 mln. NMG lets over 150,000 m[sup]2[/sup] of premises in modular buildings, and has around 220 employees. In a press release, Kungsleden said that NMG sales came to about EUR 61.5 mln in 2006.
Swedish listed property company Kungsleden has acquired the Swedish property company Nordic Modular Group (NMG) from the private equity firm 3i for EUR 100 mln. NMG lets over 150,000 m2 of premises in modular buildings, and has around 220 employees. In a press release, Kungsleden said that NMG sales came to about EUR 61.5 mln in 2006.
The majority of NMG's customers are in the public sector and its vacancies are very low, the company added. 'This acquisition means us extending our offering further, particularly towards the public sector, 'commented Kungsleden's ceo Thomas Erseus.
Kungsleden wants to anticipate the increasing demand for cost-efficient, flexible accommodation for schools, daycare centres and offices as more customers realize the cost benefits of renting modular buildings instead of buying or building.
NMG has a highly skilled management and is specialised in the production and letting of prefabricated buildings, divided into the two business lines Temporent and Flexator. Temporent is one of the biggest companies in Sweden renting out temporary premises. Flexator has been in the Swedish prefabricated building market for 50 years.
