M&A Deal Summary

Bridgepoint Acquires Miller Homes

On August 2, 2017, private equity firm Bridgepoint acquired real estate company Miller Homes from Blackstone Credit for 655M GBP

Acquisition Highlights
  • This is Bridgepoint’s 3rd transaction in the Real Estate sector.
  • This is Bridgepoint’s 5th largest (disclosed) transaction.
  • This is Bridgepoint’s 54th transaction in the United Kingdom.
Investment Fate
  • Miller Homes was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2017-08-02
Target Miller Homes
Sector Real Estate
Buyer(s) Bridgepoint
Sellers(s) Blackstone Credit
Deal Type Secondary Buyout
Deal Value 655M GBP
Advisor(s) Rothschild Global Advisory
KPMG Corporate Finance (Financial)
DLA Piper (Legal)

Target

Miller Homes

Edinburgh, United Kingdom
Miller Homes is a privately-owned housebuilder in the UK that has a strong regional footprint through three divisions (Midlands & South, North, and Scotland) and a reputation for delivering quality, family homes in desirable and high-demand locations. Miller Homes focus on sustainable developments on the edge of urban or suburban areas, typically within 45 minutes of the nearest largest town or city. Miller Homes was founded in 1934 and is based in Edinburgh, United Kingdom.

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Buyer(S) 1

Buyer

Bridgepoint

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bridgepoint is a large European private equity firm that invests in middle-market companies across a broad range of industries with an enterprise value of €200 - €1000 million. Prospective transaction situations include buyouts, buy-ins, growth financings, consolidations, and take privates. The firms invest in the range of €75 - €400 million transaction. Bridgepoint Development Capital specializes in investments in businesses valued up to a €150 million, taking equity stakes of between €10 million and €75 million. General sectors of interest include consumer products and services, retail, financial services, healthcare, media, technology, industrials, and business services. Bridgepoint was formed in 1984 and has offices in London, Frankfurt, Luxembourg, Madrid, Milan, Paris, Stockholm and Warsaw.


DEAL STATS #
Overall 117 of 188
Sector: Real Estate M&A 3 of 4
Type: Secondary Buyout M&A Deals 42 of 72
Country: United Kingdom M&A 54 of 81
Year: 2017 M&A 4 of 7
Size (of disclosed) 5 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Médipôle Sud Santé

Perpignan, France

Médipôle Sud Santé is a private hospital group in France specialising in general medicine, surgery and obstetrics, operating twelve private hospitals in the Languedoc-Roussillon region of Southern France, with over 1,500 beds, 500 healthcare professionals and 2,300 employees.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-28 Evac

Espoo, Finland

Evac is a provider of integrated waste, wastewater, and water management systems for the marine, offshore, and building industries. Evac have successfully carried out over 20,000 marine, 1,500 offshore and 2,000 building projects for customers around the world. Evac was founded in 1975 and is based in Espoo, Finland.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York, New York.


DEAL STATS #
Overall 5 of 12
Sector: Real Estate M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 3
Country: United Kingdom M&A 2 of 3
Year: 2017 M&A 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-19 ALcontrol UK

Deeside, United Kingdom

ALcontrol UK Ltd. is a network of testing laboratories with a low-cost, high-margin approach. ALcontrol was founded in 1989 and is based in Deeside, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Karix Mobile Pvt.

Mumbai, India

Karix Mobile Pvt. Ltd. empowers enterprises to use mobile to transform business at all stages of customer life cycle, from acquisition to retention. The company enables enterprises to intelligently personalize their two-way marketing & customer care interactions, across multiple channels through robust, secure and scalable mobile engagement platform.

Sell Rs3.4B