MILLER HOMES BOUGHT BY US ASSET FIRM
Edinburgh based housebuilder Miller Homes has been bought by American asset management firm Apollo.
Established in 1934, Miller Homes has gone on to build 4,000 homes a year in regional markets across Scotland and England.
They were purchased by private equity firm Bridgepoint in 2017 which saw Miller’s revenue exceed over £1 billion a year.
Apollo has purchased Miller Homes from Bridgepoint in a deal thought to be worth £1.3 Billion.
Alex Humphreys, partner at Apollo said: “Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute on their growth strategy”
Miller Homes chief executive Chris Endsor (pictured above) said: “This is an exciting development for Miller Homes in continuing our recent strong 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 witnessed a period of expansion and strong operational performance for Miller Homes, as well as having to adapt the business in exceptional circumstances.”