2nd May 2018 | Information | Danielle
We’re pleased to confirm that ISO Spaces has now purchased CargoTek Limited, an exciting acquisition that has given ISO Spaces exclusivity over the container housing market.
A brief history of ISO Spaces and CargoTek
ISO Spaces was created by Gregg Curtis and Ben Treleaven in 2013 to service a growing demand for bespoke, pop-up premises in the hospitality and events sector. In 2014, Andy Orr invested in the business and came on board as a third director as the business rapidly formed and developed processes and systems for manufacturing.
As a result of the success of ISO Spaces’ products in the market, several new opportunities emerged. These included providing shipping container developments for larger projects involving housing and accommodation.
To take advantage of the emerging opportunity, Ben and Gregg formed a separate company, Curtis and Treleaven Limited, which collaborated with Sussex-based development company, QED Sustainable Urban Developments Limited (QED), to form CargoTek in 2015.
CargoTek was a specialist volume container developer which offered design and planning, procurement and installation of shipping container developments for larger bespoke projects that had been manufactured by ISO Spaces and other suppliers. Approximately 50% of CargoTek’s sales involved ISO Spaces-manufactured containers (largely due to ISO Spaces’ capacity limitations), compared to approximately 75% of ISO Spaces’ sales provided via CargoTek.
CargoTek provided the link between ISO Spaces and the end customers, operating the sales arm of ISO Spaces for volume projects and providing the relevant expertise (via QED) for larger developments.
CargoTek combined the expertise, experience and contacts of both ISO Spaces and QED to take advantage of opportunities in the housing and accommodation sector where significant growth was forecast, delivering projects including Watermill Wharf, Marston Court and Hope Gardens.
Purchase of CargoTek
ISO Spaces purchased CargoTek in April 2018. Now a wholly owned subsidiary of ISO Spaces, CargoTek will act as the company’s development arm, allowing the business to utilise existing design IP, processes and contractors and taking on its pipeline of development business.
Now with exclusivity over the container housing market, ISO Spaces has a sales pipeline of over 500 container housing units for 2018. Keep an eye out for the completed developments in our portfolio.