Brookfield Business Partners’ USD5 Billion Acquisition of Modulaire Group

Allen & Overy advised Brookfield Business Partners on the deal.

Brookfield Business Partners acquired Modulaire Group from TDR Capital.

The transaction is expected to close by the end of 2021 and remains subject to customary closing conditions including regulatory approvals.

Modulaire is a leading provider of modular leasing services in Europe and Asia-Pacific with a customer base across the industrial, infrastructure and public sectors and a global fleet of approximately 260,000 modular units across 25 countries. Its modular units provide customers with a range of solutions for temporary space requirements.

Brookfield Business Partners is listed on the New York and Toronto Stock Exchanges and is the flagship listed business services and industrials company of Brookfield Asset Management, a leading global alternative asset manager with over USD600bn of assets under management.

The A&O team was led by M&A Head, Dominic Morris (Picture), M&A partner Alex Tilley and private equity partner Peter Banks, as well as partner Paolo Ghiglione, senior associate Antonio Ferri and associate Francesco Martello. A&O also advised on the financing of the transaction with the financing being led by London leveraged finance partner Neil Sinha alongside leveraged finance partner Adam Zecharia and capital markets partner Kevin Muzilla.

Involved fees earner: Peter Banks – Allen & Overy; Antonio Ferri – Allen & Overy; Paolo Ghiglione – Allen & Overy; Francesco Martello – Allen & Overy; Dominic Morris – Allen & Overy; Kevin Muzilla – Allen & Overy; Neil Sinha – Allen & Overy; Alex Tilley – Allen & Overy; Adam Zecharia – Allen & Overy;

Law Firms: Allen & Overy;

Clients: Brookfield Business Partners LP;