Netherlands-based private equity firm Mutares has acquired Modern Methods from construction specialist Byldis UK for an undisclosed sum.
The British company was spun off from the Hurks Group (also based in the Netherlands) in 2018 and now employs over 400 people based in London. Mutares invests in companies that design, manufacture and install off-site buildings, precast concrete cladding and aluminum facades.
Byldis Interim CEO Michael Koch said, “This acquisition is a strategic move that enhances our capabilities and solidifies our commitment to delivering cutting-edge solutions to our customers.”
In the year ending December 2021, the UK arm of Byldis made an operating profit of £33,000 and a turnover of £438,000. According to its website, it has delivered around 4,500 residential apartments in the UK.
Among the company’s major completed projects in the UK are 10 residential towers comprising around 1,750 apartments in London. The London City Island, built with precast sandwich masonry, was completed for Ballymore in 2020. The company is currently working on a new borough in London consisting of 804 homes, also for Ballymore, to be known as Goodluck Hope.
Byldis produced polished black concrete elements for the entrance to the Selfridges department store (pictured) on London’s Oxford Street, as a subcontractor to Sir Robert McAlpine.
He also contributed interior walls, stairs, landings and columns to the world’s tallest prefabricated building, which is 215 meters in Rotterdam, the Netherlands.
Mutares was founded in Munich in 2008, with 13 offices and more than 27,000 employees worldwide. The company is owner-managed, with around 37% of the shares held by management and the supervisory board. Its UK division made a pre-tax profit of £305,000 in the year ending 31 December 2022.
Byldis CFO Hank Berendsen said: “Joining forces with Mutares is an exciting prospect. Their commitment to innovation and sustainable practices aligns perfectly with our own values.”
