Algeco expands footprint in France

Algeco Group has acquired Altempo in France – the latest in a spate of European acquisitions by the US-based modular space specialist.

Altempo delivers bespoke modular building solutions for large and complex tenders, including accompanying services such as maintenance and security. The acquisition will enable Algeco to tap into this attractive segment of the French modular space market.

Mike Smith, Chairman of Algeco, said, “Altempo will be an excellent addition to our market-leading business in France.”

Altempo operates a fleet of approximately 3,000 units, has 61 employees and generates annual revenues of about €25 million.

Smith added, “Under the leadership of Thierry Munier, Altempo has developed a compelling and well-differentiated offering that is underpinned by constant innovation across its products, components and services. I am delighted that Thierry will remain with Algeco and continue to lead this business.”

Thierry Munier, Managing Director of Altempo, said, “We are very excited to join Algeco, the leading modular space business in Europe.

“I am looking forward to working closely with Alexis Salmon-Legagneur and his team to ensure we’re best-placed to take advantage of the attractive opportunities available to us.”

Other recent acquisitions by Algeco include the purchase of Alquibalat is Spain and of BUKO Huisvesting and BUKO Bouw & Winkels in the Netherlands towards the end of 2019.

Algeco also recently announced the appointment of Mark Higson as its new CEO.