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Building a global champion

Algeco Group

By consolidating leading modular space businesses across Europe, North America and Asia-Pacific, we have built The Algeco Group into the pre-eminent modular space leasing player.


Algeco Group is a leading modular space leasing business in Europe and Asia Pacific and a global provider of remote workforce accommodation management solutions. In Europe, with over 200,000 modular space and storage units, Algeco has the largest fleet base amongst its competitors and has a strong market leading position. Algeco operates as Algeco in Continental Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand and Target Logistics globally.


We acquired Algeco, Europe's leading modular space player in 2004. The investment thesis behind our original acquisition was the inherent value dislocation between the leasing earnings and sales earnings.

Through a series of acquisitions, we grew Algeco from being the French market leader to the predominant global player in modular space. In November 2017, we completed the spin out of Williams Scotsman, the North American modular leasing business, into a listed entity, positioning it strongly to participate in the US market consolidation.

What we’ve done

During TDR’s ownership we have repositioned the business away from manufacturing and sales towards a more sustainable rental model. In parallel, we have refocused the company’s sales and marketing efforts, as well as developing new sectors and new applications for modular solutions. 

We have grown the business globally through acquisition and have developed it organically, in particular through the introduction of Value Added Products and Services ("VAPS").

Further information

Dates of investment: September 2004, October 2007, June 2011
Deal type: Private sale/public-to-private
Status: Partially realised

For further information, email:  ASGroup@tdrcapital.com
Visit the company’s website at:  algecoscotsman.com