The Yorkshire family behind the Portakabin modular buildings group is in talks to sell the company to a French investor in a deal that will catapult them into the ranks of Britain’s super-rich.

Sky News has learnt that Shepherd Group, which was founded in 1890 by Frederick Shepherd, is in exclusive talks to sell the Portakabin business to Antin Infrastructure Partners.

Sources in the private equity industry said that Antin was “serious” about completing a deal, although it was unclear whether a transaction would ultimately be concluded.

The two sides are said to be in discussions about a price of more than £1.5bn.

Shepherd Group, which is based in York, drafted in bankers from Rothschild to launch a process during the summer.

The company invented the Portaloo toilet units now widely used as festivals and sporting events, and Portakabin was formed as a standalone business in 1961.

A rival company called Modulaire was acquired by Brookfield from TDR Capital in 2021 for about $5bn, underlining investor interest in the sector.

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Portakabin operates in seven countries and employs about 2,200 people, according to its website.

Other parties which expressed an interest or submitted offers are said to have included EQT and KKR.

Spokesmen for Shepherd Group and Antin both declined to comment on Friday.

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