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Firm Expands into Modular Sector After Equity Investment

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A shipping container firm is expanding into the modular sector.

3D of modular home
by Rory ButlerDecember 2, 2022

Cleveland Containers, in Stockton-on-Tees, has formed Cleveland Group – an overarching business encompassing two new divisions.

Cleveland Modular and Cleveland Hire follow a 40% equity investment in June, by LDC, the private equity arm of Lloyds Banking Group.

The move is in response to increased calls from clients for “eco-friendly site accommodation and modular buildings”, and will “strengthen and diversify” Cleveland as it ‘gears up for further organic growth’.

“The LDC investment has provided incredible opportunities to enter new areas, enabling me to leverage my background in the hire market and develop this branch of Cleveland,” said COO, Andrew Thompson.

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