Antin Infrastructure Partners’ acquisition of modular building company Portakabin has been awarded the IJInvestor Awards 2024’s Social Infrastructure Acquisition of the Year award, due to its complex nature and how the target addresses challenges faced the services most needed by society.

Modular buildings have not traditionally been seen as traditional infrastructure, however, it has grown as asset class as modular buildings cater to all critical infrastructure sectors.

York, UK-based Portakabin provides sustainable, flexible and rapid building solutions in essential sectors such as education, healthcare, and public infrastructure. With such end markets, it is clear to see how a business such as Portakabin easily fits with the social infrastructure definition.

One judge said the deal addresses the challenges of a “complex market environment with easy to install solutions providing an important social infrastructure service”.

The deal signified a major shift in the infrastructure market, as it positions Portakabin to scale its operations and expand its market share in modular construction, a sector that is increasingly recognized for its sustainability and efficiency, the submission said.

Antin acquired the company from its founding family, so an undisclosed amount. However, the fund manager raised £1.2 billion ($1.6bn) in debt for the acquisition.

The acquisition of Portakabin involved navigating a complex market environment where the demand for rapid, scalable infrastructure solutions is increasing, particularly in the wake of post-pandemic challenges.

Antin’s role was crucial in providing the financial resources and strategic direction needed to scale Portakabin’s operations across Europe.

The transaction also included securing financing to support Portakabin’s expansion into new markets and the development of new modular products tailored to the needs of the healthcare and education sectors.

The social infrastructure market has faced significant challenges, including budget constraints, regulatory complexities, and the urgent need for adaptable infrastructure solutions. Antin’s acquisition of Portakabin addresses these challenges by enabling the company to offer more cost-effective and time-efficient building solutions.

The success of this acquisition will increase the deployment of Portakabin’s modular buildings in the social infrastructure sector. It will reduce construction times and offer environmental benefits achieved through sustainable building practices. 

Advisers to Antin include:

• Jefferies – financial
• Simpson Thacher & Bartlett – legal
• Clifford Chance – legal to the lenders

Advisers to the sellers include:

• Rothschild – financial