Mon, 08 Oct 2018 | BUSINESS SALE
Derbyshire-based Avant Homes is reportedly being groomed for a sale which could net its hedge fund owners a small fortune.
According to the Sunday Times the business, formerly known as Gladedale, could be valued as much as £600 million, representing a net gain of £425 million for Avenue Capital, Angelo Gordon and Alchemy Special Opportunities.
The investment companies bought Avant Homes in 2014 from Lloyds Bank in what was essentially a distress sale opportunity. Lloyds inherited the business from HBOS which it acquired in the financial crisis. HBOS took over Gladedale after it breached its covenants following an overly ambitious expansion strategy.
The current owners were fortunate to have experienced a favourable housing market over the following three years. With the assistance of the government’s Help to Buy scheme and renewed managerial focus, the business turnaround was complete.
Last year Avant’s profits increased by 39 per cent, rising to £42.6 million.
The company sold 1,902 homes at an average price of £257,400 over the twelve-month period. It currently employs over 700 people across 71 developments.
Avant has been bullish in the City as it courts potential buyers and investors, touting a target of £1 billion of sales - 4000 homes - each year.
The company recently announced a planned investment of over £500,000 in enhanced Information Systems to support its future growth plans.
Key to the business’ success is its understanding of the importance of the relationship between process, technology and people - necessary to build sustainable and profitable growth.
Specialises in new-build and refurbishment, reliable 24-hour reactive maintenance and planned preventive maintenance. Offers invited.
LEASEHOLD
Specialist provider of waterproof roofing solutions, whilst additionally offering a contract service division for roof installations. Offers invited.
LEASEHOLD
Company engaged in the design, fabrication and installation of a wide range of complex bespoke structural steel products including steel frame structures, secondary steel and platforms and gantries. Offers invited.
LEASEHOLD
|
21
|
|
May
|
Specialist aviation company enters administration – assets and/or business up for sale | ADMINISTRATION
A specialist ultralight trikes aviation manufacturing compan...
|
17
|
|
May
|
Greater Manchester staffing firm acquires security services company | BUSINESS SALE
A security services business headquartered in Newton-le-Will...
|
16
|
|
May
|
Midlothian IT company enters administration with assets up for sale | ADMINISTRATION
An Edinburgh-based IT firm has collapsed into administration...
Sign up to receive our acquisition alert emails to get your FREE guide
|
01
|
|
Sep
|
Evac+Chair presses forward with expansion plans after MBO | MBO/MBI
Emergency chair maker Evac+Chair has, with the support of ac...
|
24
|
|
Jan
|
Sarson's Vinegar joins Hartley's jam in a sale process | DIVISION SALE
Premier Foods has commenced the sale of its Sarson’s V...
|
05
|
|
Dec
|
Owners of David Lloyd fitness centres explore sale | BUSINESS SALE
The owners of the David Lloyd Leisure fitness clubs have app...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources