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Tilia Homes (formerly Kier Living, part of the
Kier Group Kier Group plc is a British construction, services and property group active in building and civil engineering, support services, and the Private Finance Initiative. Founded in 1928 in Stoke-on-Trent it initially specialised in concrete enginee ...
) is a British
housebuilding Home construction or residential construction is the process of constructing a house, apartment building, or similar residential building generally referred to as a 'home' when giving consideration to the people who might now or someday reside th ...
company.


History

Following a failed
rights issue A rights issue or rights offer is a dividend of subscription rights to buy additional securities in a company made to the company's existing security holders. When the rights are for equity securities, such as shares, in a public company, it can be ...
in late 2018, financially troubled Kier Group began an extensive restructuring, debt reduction, cost-cutting and disposals programme in 2019, and, after significant interest in its housing division Kier Living, said it had started the sale process;
Guy Hands Guy Hands (born 27 August 1959) is an English financier and investor. He is most notable as the founder and chairman of Terra Firma Capital Partners, one of the largest private equity firms in Europe. Hands also served as chairman of the UK musi ...
'
Terra Firma Capital Partners Terra Firma Capital Partners Ltd. (TFCP) is a UK-based private equity firm. Financier Guy Hands founded the firm in 2002 through the spin-off of Nomura Principal Finance Group. The firm, which traces its roots to the formation of its predecess ...
was later reported to be among the bidders. Sale of the business was slowed by the
COVID-19 pandemic in the United Kingdom The COVID-19 pandemic in the United Kingdom is a part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). In the United Kingdom, it has resulted in confir ...
but by early 2021, it had progressed, with Kier hoping to receive around £100m for the business. On 6 April 2021, ''Sky News'' confirmed that Kier Living would be sold to Terra Firma, for £110m, subject to agreement at a meeting of Kier shareholders in early May, with completion expected by mid-June 2021. Kier Living was bought by a new company owned by Hands, and was rebranded as Tilia Homes in May 2021. The business completed over 1,100 private and affordable homes in the year to June 2020. It built 1,450 homes across its central, eastern, northern and western regions in the year to June 2021. In July 2021, Terra Firma bid £700m to buy Keepmoat Homes with a view to combining it with its former Kier Living business. Keepmoat was subsequently acquired by Aermont Capital.


References


External links

* 2021 establishments in England British companies established in 2021 Housebuilding companies of the United Kingdom 2021 mergers and acquisitions {{England-company-stub