Target Hospitality is one of North America’s largest providers of turnkey modular accommodation and related services. The company owns and operates a network of relocatable specialty rental assets serving the energy, infrastructure and US government sectors, with approximately 16,000 rooms across 31 communities.
Initial investment
2019
Sector
Business Services
The company was originally part of Modulaire, and was formed in 2019 through the combination of Target Lodging, Modulaire’s North American Remote Accommodation business, and Signor Holdings, a leading provider of remote workforce accommodation in the Permian Basin region.
We identified the opportunity to create a market-leading platform through the combination of these complementary businesses. The merger offered significant scale benefits, end-market diversification and the ability to apply operational best practice across the combined group.
In March 2019, we spun out Target Lodging from the wider Modulaire Group and combined it with Signor Holdings to form Target Hospitality, which was simultaneously listed on the NASDAQ. This transaction created a leading modular accommodation operator in the Permian Basin and diversified the business into government services.
Target has grown organically through capacity expansion and has invested in its platform to the expand service offering into complementary adjacencies, including most recently to support the roll-out of data centres across the US.