News: Bramall parent company announces merger plans
The boards of directors for Keepmoat and Apollo Group have announce their intention to combine the two businesses and create a market leader in community regeneration and social housing solutions.
The combined business will be headquartered in Doncaster with current Keepmoat CEO David Blunt taking up the same position in the enlarged entity and Peter Warry, currently Non-Executive Chairman of Apollo, becoming Non-Executive Chairman. The new business will be branded as the "Keepmoat family of companies" with Apollo retaining its own brand within this format. It will have a national presence with both Keepmoat and Apollo operating as separate divisions with regional focus.
Rotherham-based social housing specialist, Bramall Construction, is part of the Keepmoat Group. The company is celebrating their 80th anniversary this year.
Both Keepmoat and Apollo have been part of the same investment portfolio since 2007. This portfolio was purchased by Cavendish Square Partners LLP in July 2010. Cavendish is a special purpose vehicle majority owned by Coller Capital, a leading private equity secondary investor, and is advised by Caird Capital LLP.
Following regulatory clearance from the Office of Fair Trading (OFT), it is expected that the merger will complete in the fourth quarter of 2011.
David Blunt, CEO Designate, said: "The bringing together of these two businesses represents a compelling proposition for shareholders, customers and employees alike. In this challenging economic climate we will create a national champion in our market with substantial opportunities for growth."
Bramall Construction website
The combined business will be headquartered in Doncaster with current Keepmoat CEO David Blunt taking up the same position in the enlarged entity and Peter Warry, currently Non-Executive Chairman of Apollo, becoming Non-Executive Chairman. The new business will be branded as the "Keepmoat family of companies" with Apollo retaining its own brand within this format. It will have a national presence with both Keepmoat and Apollo operating as separate divisions with regional focus.
Rotherham-based social housing specialist, Bramall Construction, is part of the Keepmoat Group. The company is celebrating their 80th anniversary this year.
Both Keepmoat and Apollo have been part of the same investment portfolio since 2007. This portfolio was purchased by Cavendish Square Partners LLP in July 2010. Cavendish is a special purpose vehicle majority owned by Coller Capital, a leading private equity secondary investor, and is advised by Caird Capital LLP.
Following regulatory clearance from the Office of Fair Trading (OFT), it is expected that the merger will complete in the fourth quarter of 2011.
David Blunt, CEO Designate, said: "The bringing together of these two businesses represents a compelling proposition for shareholders, customers and employees alike. In this challenging economic climate we will create a national champion in our market with substantial opportunities for growth."
Bramall Construction website
0 comments:
Post a Comment