Builder snapped up in £655m takeover

BUILDER Miller Homes is being snapped up by private equity group Bridgepoint in a deal worth £655m.

Edinburgh-based Miller is one of the largest housebuilders in the UK, having completed 2,380 properties last year and notching up more than £100m in earnings in 2016.

It was set up in 1934 and is largely focused on the North of England and Scotland.

Bridgepoint, which also owns sandwich chain Pret A Manger, confirmed its takeover of Miller from GSO Capital Partners, which is part of private equity giant Blackstone.

Miller chief executive Chris Endsor said: ‘2016 was an outstanding year for Miller Homes. We fully expect 2017 to continue that upward trend.’

Jamie Wyatt, a partner at Bridgepoint, said last night: ‘The UK regional markets in which Miller operates are in good health, with a positive sales environment and an attractive landbuying market.’