Ancala acquires majority stake in MUCH Gruppe

MUCH Gruppe owns a large, modern and well-invested fleet with technical depth and broad customisation capabilities. This enables it to deploy large, integrated accommodation and broader infrastructure solutions at speed and scale, meeting highly specialised and regulated customer requirements. The vast majority of its revenues come from rental contracts with blue-chip and government counterparties.

Ancala will apply its highly proactive asset management approach to enable the management team to further expand its fleet and enhance its technical capabilities, broaden its customer base across Germany and international markets and explore complementary acquisitions.

Ancala secured the investment on a bilateral basis. As part of the transaction, Ancala is partnering 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 will continue to advise the MUCH Gruppe going forwards.

Manuel Much, CEO, MUCH Gruppe, comments:

”MUCH Gruppe has a three-decade history of delivering industry-leading deployable temporary space and modular solutions to a wide range of markets. Our rapid turnkey solutions allow clients to focus on their missions while knowing that all of their facility needs are taken care of.

“We recognised the importance of partnering with a leading infrastructure manager to provide us with the capital and expertise to scale further, invest in our fleet and provide even better and broader solutions to our growing customer base. Ancala’s understanding of our family business and our specialised solutions made them the natural partner for our next chapter. We are excited about the opportunities our new partnership will unlock.

“We are incredibly grateful for the pivotal role Bernd has played in building MUCH into a major player in our market and are delighted he will remain with us as an advisor.”

Luke Rotondella, Director, Ancala, adds:

“MUCH Gruppe offers one of the most comprehensive temporary space and modular infrastructure solutions in the DACH region, combining quality, deployment speed and deep operational expertise in highly specialised environments. Bernd, Manuel and the broader team have built a best-in-class operator in a specialised market segment defined by strong tailwinds and high barriers to entry.

“The company is well-placed to support Germany’s €500bn infrastructure upgrade through its leading temporary space solutions. We are already working closely with the team to scale the business further and enhance its market-leading position.”

Ancala’s investment in MUCH Gruppe is the 10^th investment the leading infrastructure manager has completed in 2025. It follows the recent complex carveouts of TorLoc Towers, a portfolio of 300 telecom towers in Ireland, and Valentra, a portfolio of critical chemical infrastructure on the U.S. Gulf Coast.

Ancala was advised by Stephens (M&A and debt) and Eversheds (legal).

Financial details of the transaction are undisclosed.