British company Portakabin, Europe's second largest manufacturer of portable and modular buildings, has acquired German firm Oecon.
Currently employing more than 1,300 staff across five countries, the acquisition gives Portakabin a significant inroad into Germany to add to its existing sales and rental operations in France, Belgium and the Netherlands.
Derek Carter, chief executive of the Portakabin Group, expressed his delight at the deal and revealed plans are afoot for further investment.
“We are delighted to have acquired Oecon, the management team and employees. Our plans for the future include further investment in the hire fleet, new market sectors and additional hire centres within Germany,” he said.
“The addition of Oecon to our French, Belgian and Dutch businesses will expand our European footprint and capability considerably and provide Oecon with the opportunity to grow within the German market and in new market sectors.
“We very much look forward to working with Mr Full and all employees to realise Oecon’s full potential.”
Joachim Full, Oecon’s managing director, said Portakabin’s privately owned status securing investment and security for its employees was a primary factor in the sale.
“The financial strength and private ownership of the Portakabin Group ensures long term investment and security for Oecon and its employees and was key in our decision to sell to Portakabin.”
“We look forward to working with Portakabin as we expand Oecon and the influence of Portakabin within the German modular market,” he added.