Doncaster homebuilder sells regeneration business in £330m deal

Keepmoat Limited, the Doncaster-headquartered homebuilder and regeneration business, has sold its regeneration arm to ENGIE, the energy and services provider, for £330m.

The Keepmoat regeneration business specialises in the design, build and refurbishment of buildings and places.

The purchase is expected to be officially completed in the next few months.

All 2,500 employees in the regeneration business will become part of ENGIE. In the UK, ENGIE employs 17,000 people and is a provider of property services and energy management, including district heating, to local authorities and businesses.

Keepmoat Homes, which provides housing across the UK, will continue its growth strategy under the Keepmoat brand.

TDR and Sun Capital acquired Keepmoat in 2014. The business works with local authorities, registered providers and public sector land owners to create high quality and mixed tenure homes throughout the UK.

TDR and Sun Capital will continue investing in Keepmoat Homes, supporting the growth plans of this business which has a target to build more than 3,500 homes in FY18.

The Keepmoat Homes management team remains in place and continues to be led by Peter Hindley, who said: “Keepmoat has grown significantly by serving the huge demand for quality new homes that are well designed and offered at prices people can afford.

“We have the investment and sites to build more homes than ever before, and help yet more people secure a place of their own. Keepmoat will keep growing strongly.”

Dave Sheridan, Keepmoat chief executive who will also join ENGIE, added: “The regeneration business has exciting prospects as part of ENGIE. It is very clear that ENGIE shares our belief that by working in partnership with local authorities and registered providers we can help cities and communities improve the places where people live.”

Wilfrid Petrie, CEO of ENGIE in the UK & Ireland, commented: “ENGIE aims to be the number one partner for cities and places in the UK and with the Keepmoat regeneration business we are extending and deepening our relationships with local authorities right across the country.

“By combining our energy expertise with an expanded services capability we can make a bigger impact as we help to improve lives of the communities we serve.

“Today, buildings account for 30% of UK carbon emissions and our investment in Keepmoat’s regeneration business underlines our long-term commitment to the UK as it transitions to a lower carbon economy.

“This transaction will also support our growth ambitions for decentralised energy networks and our home energy business as the regeneration activities will bring us closer to the end customer.”

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