McAvoy receives ‘multi-million pound’ private equity boost
The McAvoy Group, one of the UK and Ireland’s leading offsite manufacturers, has secured ‘multi-million-pound investment’ from London-based Blantyre Capital, which it says will support its continued growth’ in the very dynamic offsite sector’, and finance the Group’s ‘ambitious expansion programme’.
The McAvoy family – Orla Corr and Conor McAvoy – remain as shareholding directors, and fully active in the business. The current Board will continue to be led by managing director, Mark Lowry, and will be joined by a director from Blantyre, further strengthening the existing management team.
Orla Corr OBE, shareholder and director, said, “We are extremely excited to partner with a highly respected investment fund that is fully aligned with our vision for future growth and our strategic plan. It was important for our staff, our customers, and our valued supply chain, to join forces with a dynamic and reliable investor who will help accelerate our growth.
“We have our strongest project pipeline for many years and in a diverse range of sectors. Partnering with Blantyre will enable us to leverage industry-leading offsite solutions across the UK and Ireland, and to continue to develop our award-winning digital construction strategy.”
Adam Phillips, head of Investments at Blantyre Capital, said, “The offsite sector offers enormous opportunities for transforming construction, and is a sector in which we are keen to invest. We are confident in McAvoy’s growth potential, and are looking forward to a highly successful and productive business partnership.”
Projects nearing completion include a new mental health assessment unit at Kingston Hospital in Surrey, and the 630-pupil Paxton Academy in Croydon, which McAvoy says is ‘one of the most challenging offsite education projects ever undertaken’. In a claimed first for a modular building, the company is also constructing a play area on the roof of the four-storey building, and a multi-use games area above the sports hall.