Miller Homes has completed its purchase of St. Modwen Homes following clearance from the Competition and Markets Authority (CMA).
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 South West for the first time.
The deal was agreed in December last year for the Scottish housebuilder to acquire the Birmingham-based developer, with Miller CEO, Stewart Lynes, saying the firm was “committed to growth and playing an important part in addressing the housing shortage”.
Miller said that St Modwen shared the developer’s approach to “excellent quality and customer experience”, with both housebuilders receiving a five-star rating in the Home Builders Federation’s Customer Satisfaction Survey.
The acquisition forms 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.
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.”
