Agreement to acquire Keepmoat by TDR Capital and Sun Capital

17 Sep 2014 | 02:28 pm | 1 min. read

International law firm Pinsent Masons LLP has advised Sun Capital and investment funds managed by TDR Capital LLP who have signed an agreement to acquire Lakeside 1 Limited, the holding company of Keepmoat.

Keepmoat is the leading national provider of integrated affordable housing development and community regeneration services.   Completion is expected to occur by the end of November 2014 and is subject to regulatory clearance.

In the year to March 2014, Keepmoat recorded revenues of £930m, with nearly 2,000 properties sold by its homes division and its regeneration arm boosted by a major private finance initiative contract win in Leeds. Keepmoat offers a complete solution in creating and maintaining better communities – from building new homes and public buildings, to responsive maintenance and repairs.

TDR Capital LLP is a leading European private equity firm, founded in 2002. They have a proven investment strategy with an emphasis on seeking to improve operational performance at their portfolio companies. Sun Capital have a 20 year track record of successfully building market leading businesses and seek to invest in industries that are undergoing significant structural change.

Corporate partner Helen Ridge and legal director Anna Whetham led a team advising TDR and Sun Capital assisted by Sarah Flinn, Amie Norris and Alasdair Weir in relation to the acquisition. Barry McCaig and Caroline Orr advised on equity arrangements with Phill Birchall advising on property aspects of the deal.

Helen Ridge commented "We were delighted to assist TDR Capital and Sun Capital on this acquisition.   We hope to continue to work closely with them as they look to expand their portfolio."

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