Miller Homes has completed its purchase of St. Modwen Homes following clearance from the Competition and Markets Authority (CMA).
The deal sees the housebuilder 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 South West for the first time.
The acquisition is part of Miller Homes’ growth strategy, helping it meet its medium-term ambition of reaching 6,000 homes a year. It will continue to operate the business under the St. Modwen Homes brand, and Miller Homes will open a new regional office in the South West of England.
Pro forma financial figures reflecting the acquisition will be provided as part of our upcoming full-year 2024 earnings release on 27 March 2025.
Miller Homes’ CEO, 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.”
Read the orginal article: https://propertyindustryeye.com/property-giant-completes-acquisition-of-rival-firm-for-215m/
