Elivia Homes has acquired Millwood Designer Homes from the Places for People Group.
“Millwood is a great fit for Elivia Homes in terms of product alignment, attractive geography, and reputational fit,” commented Chris Chiles, chief executive of Elivia.
The deal will see Elivia expand into East Sussex and Kent, with Millwood becoming its third region, which will report into group and continue to be run by the existing leadership team under managing director Nick Stonley.
“The business’ excellent pipeline coupled with our financial firepower will allow the Millwood team to do more of what they are great at,” said Chiles.
The deal is part of the corporate strategy that the housebuilder laid out in April 2022, when it set out plans to double in size by 2027, building more than 600 homes per year in locations across the South East. It also changed its name from Vanderbilt to Elivia.
The funding to back this plan came a month later, when the business was acquired by funds advised by Octopus Investments. The executive team raised more acquisition capital through funds advised by Octopus Investments.
Elivia says it will grow through an active land acquisition programme and further acquisitions.
