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Transforming local players to global leaders

Algeco Scotsman

By consolidating leading modular space business services providers across Europe, North America and Asia-Pacific, we have built Algeco Scotsman into the pre-eminent modular space leasing player.


Algeco Group is a leading global business services provider focused on modular space solutions – including offices, schools and healthcare facilities – secure portable storage and remote workforce accommodation management. Algeco operates as Algeco in Continental Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand and Target Logistics globally.

Separately TDR manages a significant stake in NASDAQ-listed Williams Scotsman, a leader in modular leasing solutions in North America. 


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 in player modular space.

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”).

In November 2017 we completed the spin out of Williams Scotsman into a listed entity, positioning it strongly to participate it in the US market consolidation.

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