Continuing the M&A theme, it appears the sale of Stewart Milne Homes may be nearing completion.
The Stewart Milne Group sale was publicly announced in April with Stewart Milne deciding to retire aged 71. The group had already sold its timber frame business to Donaldson Group in 2021.
Both the 2019 and 2020 accounts showed a significant pre-tax loss but “major changes to efficiency” should show a dramatic turnaround in profitability in the 2021 year-end figures.
The business has around 20 live developments across Scotland and the NW of England and is likely to have attracted interest from other house builders looking to build critical mass in those geographical markets.
An announcement of the successful bidder is expected to be made soon or so with speculation swirling as to the company’s identity and what impact that will have on the existing structure of Stewart Milne Homes.