The Competition & Markets Authority (CMA) has found no reason to block Miller Homes ‘s acquisition of St Modwen Homes, thus allowing the transaction to complete.
Miller Homes, owned by Apollo Global Management, announced on 20th December 2024 that it had agreed a deal to buy St Modwen Homes from private equity investor Blackstone. The purchase price was reported to be £215m.
The deal sees Miller Homes acquire 19 live sites, totalling around 3,500 plots for new homes and a number of strategic sites, growing its business in the Midlands and south regions and entering the southwest for the first time.
The acquisition is designed to help Miller Homes meet its medium-term ambition of building 6,000 homes a year – up from 3,475 units in 2023.
Miller intends to continue to operate the business under the St Modwen Homes brand, while Miller Homes will open a new regional office in the southeest of England.
Miller Homes chief executive Stewart Lynes said: “I’m very pleased to welcome the St. Modwen Homes employees, customers and suppliers to the Miller Homes family. There is a lot of alignment between the businesses; both hold five-star builder status, and both prioritise quality building and customer experience. I’m excited by the growth we will achieve together, building more of the high-quality, sustainable homes the UK needs.”
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