Private equity firm acquires modular specialist

Netherlands-based private equity firm Mutares has acquired modern methods of construction specialist Byldis UK for an undisclosed sum.

The UK firm spun out of the Hurks group (also based in the Netherlands) in 2018 and now employs more than 400 people with a head office in London. Mutares invests in firms that design, manufacture and install offsite building, precast concrete cladding and aluminium facades.

Byldis interim chief executive Michael Koch said: “This acquisition is a strategic move that enhances our capabilities and cements our commitment to delivering cutting-edge solutions to our clients.”

In the year ending December 2021, Byldis’ UK arm made an operating profit of £33,000 and a turnover of £438,000. It has delivered around 4,500 residential apartments in the UK, according to its website.

Among the firm’s major completed UK projects are 10 residential towers comprising around 1,750 apartments in London. London City Island, built with precast sandwich masonry, was completed for Ballymore in 2020. The firm is currently working on a new neighbourhood 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) in London’s Oxford Street, as a subcontractor for Sir Robert McAlpine.

It also contributed inner walls, stairways, landings and columns to the world’s tallest prefabricated building, which stands at 215 metres in Rotterdam, the Netherlands.

Mutares was founded in Munich in 2008, growing to 13 offices and more than 27,000 employees throughout the world. The company is owner-managed, with around 37 per cent of shares held by management and the supervisory board. Its UK division made £305,000 in pre-tax profit in the year ending 31 December 2022.

Byldis financial director Hank Berendsen said: “Joining forces with Mutares is a thrilling prospect. Its commitment to innovation and sustainable practices perfectly aligns with our own values.”

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