The home building activities of Larkfleet have been sold to the funds managed by global investment management firm, PIMCO.
Karl and Helen Hick will retain all the non-home building interests of the Larkfleet Group and will continue their work supporting community and charitable projects, particularly the recently formed Karl and Helen Hick Charitable Trust.
John Anderson, the current Chief Executive Officer of Larkfleet Group, and Alastair Gordon Stewart, current Chief Financial Officer, will stay on to lead the company under the new ownership. The sale covers all the house building activities of Larkfleet Group. The new company will continue to trade under the brand names Larkfleet Homes and Allison Homes.
It has been announced that PIMCO will back the existing management team with significant investment to help deliver the business’s ambitious strategy to deliver over 2,000 homes a year within the next five years. Karl is to remain as an advisor to the new company to help the transition. Karl will also retain a financial interest in major existing housing projects.
John Anderson has wide ranging experience covering all aspects of general management in house building and the residential development sector, land acquisition, mixed use property development, and corporate turnaround and recovery, throughout the UK. Alastair Gordon Stewart joined Larkfleet in May 2020, he was previously finance director of Kier Living.
