Tilia Homes

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Tilia Homes
Industryhouse-building
PredecessorKier Living
FoundedJune 1, 2021; 8 months ago (2021-06-01)[1]
Headquarters
Solihull, West Midlands, UK
Key people
David Bridges (chief executive)[1]
OwnerTerra Firma Capital Partners
Number of employees
430[1] (2021)
Websitewww.tiliahomes.co.uk

Tilia Homes (formerly Kier Living, part of the Kier Group) is a British housebuilding company.

History[]

Following a failed rights issue in late 2018, financially troubled Kier Group began an extensive restructuring, debt reduction, cost-cutting and disposals programme in 2019, and, after significant interest in its housing division Kier Living, said it had started the sale process;[2] Guy Hands' Terra Firma Capital Partners was later reported to be among the bidders.[3] Sale of the business was slowed by the COVID-19 pandemic in the United Kingdom but by early 2021, it had progressed, with Kier hoping to receive around £100m for the business.[4]

On 6 April 2021, Sky News confirmed that Kier Living would be sold to Terra Firma,[5] for £110m, subject to agreement at a meeting of Kier shareholders in early May, with completion expected by mid-June 2021.[6] Kier Living was bought by a new company owned by Hands,[7] and was rebranded as Tilia Homes in May 2021.[1][8] The business completed over 1,100 private and affordable homes in the year to June 2020.[1][8]

In July 2021, Terra Firma was reported to be bidding £700m to buy Keepmoat Homes with a view to combining it with its former Kier Living business.[9]

References[]

  1. ^ a b c d e Simpson, Jack (1 June 2021). "Kier completes £110m sale of housing business". Inside Housing. Retrieved 13 July 2021.
  2. ^ Prior, Grant (1 August 2019). "Kier close to selling housing division". Construction Enquirer. Retrieved 1 August 2019.
  3. ^ Kleinman, Mark (9 December 2020). "Tycoon Hands wants to build new home with ailing Kier". Sky News. Retrieved 7 January 2020.
  4. ^ Morby, Aaron (19 January 2021). "Kier continues to battle with high debts". Construction Enquirer. Retrieved 19 January 2021.
  5. ^ Kleinman, Mark (6 April 2021). "Kier on brink of housebuilding arm sale to financier Hands". Sky News. Retrieved 6 April 2021.
  6. ^ Prior, Grant (16 April 2021). "Kier agrees sale of housing business for £110m". Construction Enquirer. Retrieved 19 April 2021.
  7. ^ "Kier sells house-building arm to Guy Hands". The Construction Index. 19 April 2021. Retrieved 19 April 2021.
  8. ^ a b Quested, Tony (3 June 2021). "Kier Living homes in on fresh era after £110 million sale completes". Business Weekly. Retrieved 13 July 2021.
  9. ^ Kleinman, Mark (13 July 2021). "Guy Hands eyes housebuilding empire with £700m Keepmoat bid". Sky News. Retrieved 14 July 2021.
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