Ant Book

Main Menu

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance

Ant Book

Header Banner

Ant Book

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance
Private Equity Funds
Home›Private Equity Funds›Private equity giant Apollo acquires Miller Homes, headquartered in Edinburgh

Private equity giant Apollo acquires Miller Homes, headquartered in Edinburgh

By Joanne Monty
December 24, 2021
0
0

Financial terms were not disclosed regarding the deal, which is expected to be finalized in the first quarter of 2022.

Register to our daily newsletter

Newsletter cut through the noise

The Scottish homebuilder was established in 1934 and focuses on building high quality family homes in the regional markets of Scotland and England. He says he builds around 4,000 properties per year in nine regions, with the ambition to increase to 6,000 units per year in the medium term, while he is “on track for a record in 2021”. The firm received legal advice from DLA Piper regarding this latest transaction.

“This is an exciting development for Miller Homes as we continue our recent strong momentum,” says company boss Chris Endsor. Image: contributed.

Read more

Read more

Plans submitted for the first phase of the development of 900 housing units in the university town of Fife

Miller Homes CEO Chris Endsor said, “This is an exciting development for Miller Homes as we continue our recent momentum. Apollo has deep housing expertise, with a global platform, extensive resources and capital to create value for all stakeholders.

“The past four years have been marked by a period of expansion and strong operational performance for Miller Homes, as well as the need to adapt the business under exceptional circumstances. We have emerged stronger and are uniquely positioned to meet our mid-term goal of 6,000 units while maintaining the quality of product and service for which we are known.

Apollo partner Alex Humphreys – who as of September 30 had assets under management of around $ 481 billion (£ 359 billion) – applauded the deal, saying: “Miller Homes has a strong presence in suburban areas which continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute their growth strategy. “

Christopher Hojlo, Partner of Apollo, said: “We continue to see opportunities to invest in the residential housing market as consumer demand for new homes accelerates.

Commitment

“Today’s announcement builds further on Apollo’s continued commitment to the housing industry, including more recently current and pending investments by Apollo and its affiliates in the US home builder. , The New Home Company, and the UK’s leading specialty mortgage lender, Foundation Home Loans. leverage our knowledge and connections in the industry to move the business forward and provide more customers with high quality family homes.

Jamie Wyatt, Partner and Co-Head of UK Investments at Bridgepoint, also commented, “We are delighted to have supported Miller Homes and its management in growing the business over the past four years. During our ownership period, the number of homes sold per year increased by a third, revenues exceeded £ 1bn for the first time and profits increased by almost 50%.

“The company has also expanded to new parts of the UK and made two strategic acquisitions.”

Miller Homes announced in May that it had acquired Wallace Land Investments and Management, a strategic land development company, saying this would strengthen its “substantial” strategic land reserve, bringing the group’s total to 119 sites. The Edinburgh-based company said at the time that it expected the portfolio to deliver “a significant number of consigned units, thereby adding significant value creation both now and in the years to come.” .

A message from the editor:

Thank you for reading this article. We depend on your support more than ever, as the change in consumption habits caused by the coronavirus is having an impact on our advertisers.

If you haven’t already, consider supporting our trusted and verified journalism by purchasing a digital subscription.

Related posts:

  1. Two non-public fairness companies take management of the US software program firm Exactly in a $ 3.5 billion deal: supply
  2. Sanlam impression fund buys meat producer as a part of job creation marketing campaign
  3. Two personal fairness corporations take management of the US software program firm Exactly in a $ 3.5 billion deal: supply
  4. The COVID reset of the M&A market

Categories

  • Eu Fragmentation
  • Finance
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds

Recent Posts

  • Allergy Immunotherapy Market is Expected to Grow at a CAGR of 10.7% from 2017 to 2025
  • Cohen & Co. Announces Partner Promotions | Estate planning
  • What is Impact Investing? – The penalty
  • Three technical challenges that keep CISOs up at night
  • Acquisition International Names DRA Family Office Best Direct Private Investments and Family Office in Northern California
  • Terms and Conditions
  • Privacy Policy