Construction BUSINESS

BAM Acquires Stake in Irish Modular Homes Specialist

 Breaking News
  • Opening of Stephenstown Link Road in Balbriggan The Stephenstown Link Road, constructed by Jons Civil Engineering, has been officially opened with Mayor of Fingal Cllr Anthony Lavin cutting the ribbon on this key piece of infrastructure development within Balbriggan. The new Link Road in Stephenstown Industrial Park runs from the existing roundabout on the Stephenstown Road to a new roundabout on Clonard Street Road, [...]...
  • The UK National Construction Expo – The Arena MK, Milton Keynes – 1st May 2019 The UK National Construction Expo is being held at the Arena MK, Milton Keynes in England on Wednesday, 1st May 2019. Although British construction activity overall has slowed, chiefly due to businesses continuing to postpone major building projects due to Brexit uncertainty, which is impacting the commercial construction and civil engineering sectors, house building remains buoyant. Of [...]...
  • Key Advisor Line-up For Waterford North Quays and Michael Street Development Projects Falcon Real Estate Development Ireland, the company that is backing the Waterford North Quays and Michael Street development projects, has appointed its key advisors including the leasing agency and design team for the project. Cushman & Wakefield, a leading global real estate service firm, has been appointed as the leasing agency for the entire North Quays [...]...
  • Ballymun’s Potential as a European Leader in Housing Planning and housing experts have examined Ballymun’s potential as a European leader for innovative housing development, as part of the recent Vienna Model of Housing exhibition in Dublin. Previous planning within the Ballymun area indicates a lack of consideration for community development, with no main street or community focal point currently present. Dublin City Council’s local [...]...
  • 200 Construction Jobs at Johnson & Johnson Vision Care Limerick Facility Approximately 200 workers are expected to be employed in the construction phase of Johnson & Johnson Vision Care’s planned €100 million expansion of its manufacturing operations at its site in the National Technology Park, Plassey, Limerick. The project is supported by the Irish Government through IDA Ireland. IDA Ireland CEO Martin Shanahan said: “This is a significant announcement. Already [...]...

BAM Acquires Stake in Irish Modular Homes Specialist

BAM Acquires Stake in Irish Modular Homes Specialist
January 29
09:37 2019

BAM has acquired a stake in leading modular homes provider Modern Homes Ireland (MHI). MHI constructs quality assured steel-framed homes and commercial buildings within a precision-controlled environment, with units being up to 95% constructed before leaving the factory. Financial terms of the transaction are not disclosed.

BAM has taken the strategic step with MHI, the only NSAI certified volumetric housing provider in Ireland, to enhance and maximise business opportunities for both companies in the Irish construction sector. MHI was established in 2016 and has completed more than 400 residential units since then, mainly in the Leinster area including a combination of social housing and high-end residential developments. Based in Ballyjamesduff where it employs 120 people with a current capacity of more than 500 units annually, it is led by its founding shareholder team of Joint Managing Directors Chris Curtis and Stephen McManmon and Executive Directors Adrian McNally and Brendan McNally.

With the growing demand for housing, increasing industry resource constraints and the rising level of public and private investment in social and private homes, there is a significant opportunity for both to become the leaders in the use of modular construction for housing, student accommodation and hotels. These sectors are an important part of BAM’s current output.

Both businesses plan to accelerate home building activity in social housing and PPP contracts as well as in private developments in large population centres. This further development in its modular approach, reflecting the change in the industry and in line with BAM’s strategy Building the Present, Creating the Future, enables BAM to offer its clients added value through high quality and rapid programmes.

MHI has a unique and immediate offering of volumetric housing units and is well positioned to grow significantly in modular construction across multiple streams. They can competitively deliver high quality housing, unaffected by the construction skills shortage currently being experienced in Ireland.

The benefit of off-site fabrication is a significantly faster build time than traditional construction. Following BAM’s investment MHI will further increase its production capacity in Ballyjamesduff.

It will also benefit from BAM’s widespread knowledge across technical and academic fields and access to BAM’s global innovation team. This will improve its processes from a production and operational efficiency perspective, as well as being able to leverage BAM’s strong client base to enter new markets.

BAM will also bring the expertise and experience which will enable MHI to bid for larger projects. This step also allows MHI access to BAM’s modular expertise in the Netherlands, where BAM Modulair Bouwen en Ontwikkelen has state-of-the art production facilities in Veenendaal to develop innovative elements for new-build and renovation projects in both the residential and non-residential markets, thus contributing to making buildings more sustainable and circular.

Confirming the investment BAM Ireland CEO Theo Cullinane said: “This is a significant strategic investment for BAM. We are cognisant of the need for an acceleration of output in the housing sector and we are happy that our investment will play a part in the solution to the current housing crisis in the country. Modular is clearly the future and this is a unique opportunity to further develop a business, not just in housing but in modular housing which aligns closely with our drive towards ‘digital construction”.

Commenting on the deal, MHI Joint Managing Director Chris Curtis said: “We are very pleased to have entered into this strategic partnership with an Industry Leader in BAM, which will allow us to grow further and benefit from the vast experience that they will bring to us. This significant investment further confirms that off-site construction is the future of Housing and that our firm is at the forefront. This collaboration is the foundation for an exciting future ahead for MHI.”

CAPTION:

Pictured are: Brendan McNally, Executive Director & Co-Founder, MHI; Stephen McManmon, Joint MD & Co-Founder, MHI; Theo Cullinane, CEO, BAM; Minister of State for Housing and Urban Development Damien English TD; Chris Curtis, Joint MD & Co-Founder, MHI; and Adrian McNally, Executive Director & Co-Founder, MHI.

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements