YORKSHIRE-based modular building specialist Interlink Building Systems has been snapped up by South African industrial services group Waco International.
The Johannesburg-based giant coughed up more than £31 million in a deal that will see Waco take control of the modular building business.
The deal will double the size of Waco's existing interests in UK modular building and give it a 12 per cent share of a £600 million-a-year market.
The Interlink business will be merged with Waco's existing UK modular and relocatable building business, Premier Transline, and renamed Waco UK.
According to Waco International's chief executive Royden Vice the new company will rank as the second largest British modular building hire business and third in the overall modular and relocatable buildings market with a combined fleet of more than 5,000 units.
And he revealed that the company was set to focus on the education and healthcare sectors, where spending had grown by more than 20 per cent a year over the past few years.
He said: 'Interlink's modular hire strengths neatly complement Premier's own in manufacture, modular and cabin hire and sales. The merger gives Waco a strong platform from which to capture the very attractive growth opportunities available in the UK.'