The Irish arm of Dutch contractor Royal BAM Group has acquired a non-controlling stake in modular builder Modern Homes Ireland (MHI).
The financial terms of the deal have not been revealed.
MHI builds steel-framed homes and commercial buildings that are up to 95% completed before leaving its factory in Ballyjamesduff, County Cavan.
Since being founded in 2016, MHI has built 400 residential units, including a mix of social housing and high-end residential developments. It employs 120 staff and can build 500 units annually – a figure it plans to increase following BAM’s investment. BAM says the two plan to “accelerate home building activity in social housing and PPP contracts as well as in private developments in large population centres”.
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