Kier Living has become Tilia Homes following the successful completion of its sale from Kier Group to Terra Firma, one of Europe’s leading private equity investment firms.
The sale marks an exciting new chapter for the homebuilding business which employs around 430 people and completed over 1,100 private and affordable homes in the year to June 2020 across its Central, Eastern, Northern and Western regions.
The business will continue to be run by its existing senior leadership team, led by CEO David Bridges. Commenting on the announcement, he said: “The completion of Kier Living’s sale is a really positive step for our teams, customers and partners and presents an exciting opportunity to move forward with our new owner and invest in our future.
“The backing of Terra Firma will enable the business to build on our strong foundations and create a thriving and sustainable company which delivers quality homes and a first-class customer service. With the acquisition being equity-funded, our ability to compete in the land market will be significantly enhanced and continuing our active land acquisition programme will be a key pillar of our future growth plans.
“We have a great team across the business, and I look forward to working with them and our new owner on a shared vision and strategy for Tilia Homes.”
Terra Firma specialises in asset-backed businesses with strong growth potential. Guy Hands, Chairman and Chief Investment Officer, comments: “With the successful completion of the sale now behind us, Terra Firma are delighted to work with David and the management team to drive the business into this new and exciting phase. Under a new, refreshed brand – Tilia Homes – we believe the business will play a crucial role in delivering high-quality, affordably priced housing across the UK.”
