Procuritas exits Temporary Space

The business was a Procuritas Capital Investors VI portfolio company; the fund closed on €318m in May 2017. This is the first exit from the fund, according to Unquote Data.

The acquisition will help trade buyer Algeco to strengthen its position in the Nordic modular space market. The transaction is its third acquisition in the Nordic region.

Previous funding
Procuritas acquired Temporary Space Nordics in 2018 for a consideration of €53m.

The businesses acquired GSV Pavilion in November 2019.

Company
Based in Bro, Sweden, and established in 1955, Temporary Space offers temporary premises primarily for accommodation, schools, health centres and office spaces. The company operates in Sweden, Norway, Finland and Denmark, and recorded total pro forma revenues of €41m in 2019.

People
Algeco – Mark Higson (CEO).
Temporary Space Nordics – Magnus Kjellin (CEO).

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