Offsite construction specialists The McAvoy Group have secured a multi-million-pound investment from London-based Blantyre Capital.
Although the specific level of financial backing is currently undisclosed, the company says the significant investment will support McAvoy in its continued growth in the offsite sector, and will also 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 Mark Lowry, managing director, and will be joined by a director from Blantyre, further strengthening the existing management team.
Orla Corr, 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 we are looking forward to a highly successful and productive business partnership.”
The McAvoy Group has been providing offsite schemes and interim modular buildings for the past 50 years, and it has two purpose-built manufacturing centres in Northern Ireland spanning more than 150,000sqft. Current projects nearing completion include a new mental health assessment unit at Kingston Hospital in Surrey and the 630-pupil Paxton Academy in Croydon.