Yorkshire-based house builder Keepmoat has signed a deal to sell its regeneration arm to French energy services firm ENGIE for £330m.
The Doncaster-based Keepmoat regeneration business has an annual turnover of around £800m and employs 2,500 staff across the UK. It has long-term relationships with more than 170 local councils and many of the largest housing associations. The business currently has a £1 billion order book and a £9 billion pipeline of regeneration opportunities across the UK.
Isabelle Kocher, ENGIE CEO, said: “The acquisition of Keepmoat is closely aligned with ENGIE’s strategy and is a major step in our development in the United Kingdom. It will help the group to accelerate its growth in customers solutions, one of its strategic priorities, and to expand our offers to cities, complementing the energy and facility management solutions that we already provide in the country.”
Completion of the transaction is conditional on anti-trust clearance and is expected to take place in a few months.
Dave Sheridan, CEO of Keepmoat, will join ENGIE at completion together with the entire regeneration division’s infrastructure and employees.