Terra Firm beefs up housing portfolio with Hopkins buy
Private equity firm Terra Firma has snapped up Suffolk-based housebuilder Hopkin Homes for an undisclosed sum.
The acquisition is the latest move by the business into UK housebuilding following its purchase last year of Kier鈥檚 housing arm for 拢110m.
The company, which was founded by billionaire investor Guy Hands and is now one of Europe鈥檚 largest private equity firms, was also linked with Keepmoat before the latter鈥檚 eventual sale to Aermont.
Hopkins Homes, which last year made a profit of 拢34.5m on turnover of 拢194.3m, will continue to be run by current group managing director Lee Bernard.
The Woodbridge firm was set up in 1993 by executive chairman James Hopkins and employs close to 200 people across 21 sites.
Hopkins completed 717 homes in 2020/21, up from 677 year-on-year despite the pandemic. The company says it focuses on 鈥渟ensitivity to the unique local character of each location鈥� in its housing developments.
James Hopkins will continue to own and remain in charge of Hopkins & Moore, a separate house building company to be renamed Denbury Homes, which was not part of the sale.
No comments yet