UK-based modular space rental specialist Algeco Group has changed its name to Modulaire Group, while maintaining its current trading names.
The change in name was said to reflect the company’s transformation over recent years, which has included the acquisition of six modular space businesses, primarily across Europe.
The change in name relates to group-level only. With operations in 24 countries across Europe and Asia Pacific, the company will continue to operate locally under its existing names.
These are Algeco in much of Europe, Elliott in the UK, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in the Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.
Algeco Global Finance plc and Algeco Global Finance 2 plc, which issue senior secured notes and senior notes respectively, will be re-named Modulaire Global Finance plc and Modulaire Global Finance 2 plc in due course.
The company said it is continuing to drive profitability across the business, with a focus on optimising sales volume and price, effective capital investment and targeted acquisitions.