York councillors have raised jobs fears after changes in the ownership of a big employer in the city.
Portakabin in Huntington is finalising a deal with French-owned finance company Antin Infrastructure Partners.
The Portakabin board describe it as “a long-term strategic partnership”.
However, Sky News reported back in January that owners the Shepherd Group are looking to sell Portakabin to Antin for around £1.5bn.
A spokesperson for Portakabin referred questions to a statement on its website which says: “The company owns a fleet of over 100,000 modular units, which it leases to over 4,000 customers across the UK and key regions in Europe.
“As an experienced infrastructure investor, Antin will support the next stage of growth for Portakabin to deliver high quality, customised, modular and circular solutions to essential end markets.”
Dan Ibbetson, CEO of Portakabin said: “We are excited to welcome Antin as a long-term partner and leverage its resources to accelerate our growth trajectory.”
And Antin senior partner Simon Söder added: “We are delighted to invest in Portakabin to help the company write the next chapter in its impressive growth story.
“We look forward to working closely with the strong Portakabin management team to build on its 60-year history of delivering high-quality modular building infrastructure.”
Closure of the deal “is subject to receipt of customary regulatory approvals” the company says.
Portakabin, which was launched in 1961, employs 750 people at its Huntington HQ.
York Outer Liberal Democrat candidate, Andrew Hollyer said: “We need urgent confirmation from Antin Infrastructure Partners that if this sale goes through the Portakabin headquarters will remain in Huntington and jobs of hard working residents will be safe.
“We hope that the new company will continue Portakabin’s long standing investment into highly skilled jobs in York for many years to come.”
Huntington and New Earswick Lib Dem councillor Keith Orrell said: “Portakabin is in the heart of our community and so the way it operates affects local residents.
“We have always had good relations with Portakabin as a local employer of many of our residents. I hope that the new company will continue the open communication we currently enjoy and that no jobs are lost in this process.”