Four in the race for the homes of the Keepmoat


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Four investors have submitted bids to purchase Keepmoat homes, and a decision is expected later this summer. According to Sky News, the bidders have moved to Aermont Capital, Apollo Global Management, Patron Capital and Terra Firma Capital Partners. Earlier this month, Terra Firma Capital Partners – the new owner of Kier Living – made a £700m bid for a home. If she succeeds with her show, Terra Firma is expected to combine Keepmoat and Kier Living. Aermont Capital is an independent real estate asset management firm focused on Europe, and also owns Pinewood Studios. Apollo Global Management is a New York-based alternative investment manager, and Patron Capital is a major real estate investor in Europe. Since 2014, Keepmoat – which started as a family business and has built a strong position in the affordable housing market – has been under the control of private equity firms TDR Capital and Sun Capital Partners (UK). Besides the private bid, the owners considered an initial public offering of £750m in the stock market. In its most recent accounts up to October 31, 2020, Keepmoat posted a loss of £81,000, after making a profit of £51.5 million in the previous year. Its revenue fell 40 per cent to £364.2 million. It said at the time that its “financial and operating results have been significantly impacted by the shutdown period and ongoing economic uncertainty caused by COVID-19.”


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