Description

Target Hospitality (“Target”) is the largest provider of remote accommodation in the United States, operating 22 facilities with approximately 12,000 beds. Target Hospitality was formed in March 2019 through the combination of Target Lodging – Algeco’s North American Remote Accommodation business) – and Signor Holdings – a leading provider of remote workforce accommodation in the Permian Basin region.

Transaction

In March 2019, we completed the spin out of Target Lodging from Algeco Group into a listed vehicle combining it with Signor Holdings and forming Target Hospitality. Target is trading on the NASDAQ and TDR manages a significant stake in the business.