Offsite construction firm the McAvoy Group has received a multi-million-pound cash injection from London-based Blantyre Capital to fund its growth in the sector.
The McAvoy family – Orla Corr and Conor McAvoy – remain as shareholding directors, while the board will continue to be led by managing director Mark Lowry. They will be joined by a director from Blantyre.
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The McAvoy Group is the latest offsite manufacturer to receive significant investment, after the government announced in November last year that it was putting £30m into Ilke Homes via Homes England.
McAvoy is currently working on a new mental health assessment unit at Kingston Hospital in Surrey and the 630-pupil Paxton Academy in Croydon, which features a play area on the roof of the four-storey building, and a multi-use games area above the sports hall.
The company has two purpose-built manufacturing centres in Northern Ireland spanning more than 150,000sqft.
Orla Corr said: “We are extremely excited to partner with a highly respected investment fund that is fully aligned with our vision for future growth and our strategic plan. It was important for our staff, our customers and our valued supply chain to join forces with a dynamic and reliable investor who will help accelerate our growth.”
“We have our strongest project pipeline for many years and in a diverse range of sectors. Partnering with Blantyre will enable us to leverage industry-leading offsite solutions across the UK and Ireland and to continue to develop our award-winning digital construction strategy.”
Adam Phillips, head of investments at Blantyre Capital, said: “The offsite sector offers enormous opportunities for transforming construction and is a sector in which we are keen to invest. We are confident in McAvoy’s growth potential and we are looking forward to a highly successful and productive business partnership.”
