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Canada’s real estate service provider Brookfield Business Partners announced on Sunday an agreement to acquire British-based Modulaire Group, which is backed by private equity firm TDR capital, for US$5-billion.

Brookfield’s investment will be funded with about US$1.6-billion of equity and the company intends to fund about US$500-million, with the balance funded by institutional partners, the company said.

Modulaire, an infrastructure services company, said the transaction is expected to close in the fourth quarter.

Modulaire’s current management team will remain with the company after its acquisition by Brookfield Business Partners, the company said.

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Brookfield Business Partners LP
Brookfield Business Partners LP

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