Leading independent infrastructure manager Ancala has acquired a majority stake in the MUCH Group, a specialist provider of temporary modular buildings, ground protection, and comprehensive temporary infrastructure solutions, as well as related services and accessories.
Headquartered in Limburg an der Lahn, Germany, the MUCH Group provides temporary spaces and modular solutions for the defense, government, and emergency response sectors. Its turnkey solutions include warehouses, courthouses, solutions for businesses, industry, and the education sector, as well as emergency medical and crisis response facilities.
The MUCH Group boasts a modern and well-invested rental fleet, extensive technical expertise, and versatile customization options. This enables the rapid and large-scale deployment of large, integrated housing and other infrastructure solutions, allowing it to meet highly specialized and specific customer requirements.
The global market for accommodation during military exercises is expected to grow by 2.4% annually, driven by significant increases in defense spending. The increasing need for more agile military operations is driving demand for mobile command posts, modular accommodations, and a shift to deployable solutions.1
Ancala will apply its proactive asset management approach to enable the management team to further expand its rental fleet, enhance its technical capabilities, broaden its customer base in Germany and international markets, and explore complementary acquisitions. As part of the transaction, Ancala is working with the existing management team, led by CEO Manuel Much – who retains a significant minority stake in the company – COO Ralf Ruffini, and CCDO Stefan Meuser. Founder Bernd Much has sold his shares in the company and will continue to support the MUCH Group in an advisory capacity.
Manuel Much, CEO of the MUCH Group, comments:
"The MUCH Group has a 34-year tradition of delivering rapidly deployable temporary and modular solutions for a wide range of markets. Our fast, turnkey solutions allow customers to focus on their missions, knowing that all their needs are met.
"For us, the importance of partnering with a leading infrastructure manager who provides us with the capital and expertise to further scale, invest in our rental fleet, and offer even better and more versatile solutions to our growing customer base was quickly apparent. Ancala's understanding of our family business and our specialized solutions makes them the natural partner for our next chapter. We are excited about the opportunities that our new partnership will open up."
" “We are incredibly grateful for the crucial role my father, Bernd, played in making MUCH a key player in the market, and we are delighted that he will remain with us as an advisor.”
Luke Rotondella, Director of Ancala, adds:
“The MUCH Group offers one of the most comprehensive solutions for temporary space and modular infrastructure in the DACH region, combining quality, speed of deployment, and in-depth operational expertise in highly specialized environments. Bernd, Manuel, and the entire team have built a world-class company in a specialized market segment characterized by strong tailwinds and high barriers to entry.”
“With its leading temporary space solutions, the company is ideally positioned to support Germany’s €500 billion infrastructure modernization. We are already working closely with Ralf and Stefan, as well as their teams, to further expand the business and strengthen its market-leading position.”
Ancala’s investment in the MUCH Group is the tenth investment the leading infrastructure manager has completed in 2025. This follows the recent, complex spin-off of TorLoc Towers, a portfolio of 300 telecommunications towers in Ireland, and Valentra, a portfolio of critical chemical infrastructure on the US Gulf Coast.
MUCH was advised by UniCredit Advisory & Financing Solutions (M&A), MNT (tax), and Melchers (legal).
Ancala was advised by Stephens (M&A) and Eversheds (legal).
The financial details of the transaction are not being disclosed.