Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brus sel,  BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 3.9.2021  
C(2021) 6609 final  
PUBLIC VERSION 
BCP V Modular Services Holdings IV 
Limited  
One Canada Square  
Level 25 Canary Wharf  
E14 5AA  London  
United Kingdom  
Subject : Case M. 10393 – BROOKFIELD  / MODULAIRE  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 10 August  2021, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which BCP V 
Modular Services Holdings IV Limited (‘Modular Holdings’, United Kingdom), an 
entity indirectly controlled by Brookfield Asset Manage ment Inc. (‘Brookfield’, 
Canada)  inteds to acquire within the meaning of Article 3(1)(b) of the Merger 
Regulation  control of the whole of  Modulaire Investments 2 S.A. R.L. (‘Modulaire’, 
Luxembourg).  
The concentration is accomplished by way of  purchase of s hares .3 
2. The business activities of the undertakings concerned are:  
− Modular Holdings: investment entity created for the purpose of the acquisition of 
Modulaire; Brookfield: global asset management with a focus on real estate, infrastructure, renewable power  and private equity. 
− Modulaire : infrastructure services and  sale of modular buildings  under the brand 
names Algeco in Europe and Scandinavia, as well as Elliott, Advanté and Carter in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 333, 19.8.2021, p. 5. 

2 BUKO Bouws ystemen in the Netherlands, Ausco in Australia, Portacom in New 
Zealand and Algeco Chengdong in China.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation and of 
paragraph 5(b) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decide d not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 (Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.