Premier Modular has secured a £360m refinancing and capital expenditure (CapEx) facility to support the expansion of its modular social infrastructure platform across the UK and Europe.
The funding package, provided by German bank NORD/LB alongside a consortium of international lenders, will enable the modular building specialist to continue investing in its fleet and expand its delivery of modular facilities for healthcare, education and other public sector infrastructure.
Premier Modular has delivered a number of major NHS projects, including:
- A health and social care facility at St Mary's Community Hospital on the Isles of Scilly.
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A £21m outpatient services building at King's College Hospital.
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A 62-bed Priority Assessment Unit at St Peter's Hospital in Surrey.
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The UK's first modular "barn" surgical theatre at the Kent and Medway Orthopaedic Centre in Maidstone.
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A modular urgent treatment centre at James Cook University Hospital.
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A permanent clinical facility to increase bed capacity at Dorset County Hospital.
"We have built a market-leading platform with a high-quality, modern fleet and a long-standing customer base, and this financing gives us the firepower to continue investing in that platform," said David Harris, Chief Executive Officer of Premier Modular.
Backed by investors Cabot Square Capital and MML Capital Partners, Premier Modular said demand for flexible modular space continues to grow as public sector organisations seek faster, more adaptable solutions to replace or expand ageing infrastructure.
The company's modular buildings are designed with an operational lifespan of more than 30 years and can be relocated, reused and reconfigured to meet changing service requirements over time.
The refinancing and investment facilities will support Premier Modular's continued expansion across key social infrastructure sectors in the UK and Europe.
The funding follows Premier Modular's recent appointment to YPO's Modular Buildings and Modern Methods of Construction (MMC) framework, providing NHS trusts and other public sector organisations with a compliant route to procure modular healthcare buildings.
