Keepmoat Group to sell regen business

Homebuilder and regeneration specialist Keepmoat has signed an agreement to sell its regeneration arm to energy and services provider ENGIE for £330m Keepmoat Homes will continue under the Keepmoat brand. The Keepmoat regeneration business specialises in the design, build and refurbishment of buildings and places. ENGIE is a major provider of property services and energy management to local authorities and businesses, and employs 17,000 people in the UK. All 2,500 employees in Keepmoat’s regeneration business will become part of ENGIE. Completion is conditional on anti-trust clearance and is expected to take place in a few months. TDR and Sun Capital acquired Keepmoat in 2014, and will continue investing in Keepmoat Homes. Its managing director, Peter Hindley, and his management team will remain in place. Since it was bought in 2014, Keepmoat Homes has more than doubled in size, working with local authorities, registered providers and public sector land owners to create mixed-tenure housing developments. Wilfrid Petrie, chief executive of ENGIE in the UK and Ireland, said: “Today, buildings account for 30% of UK carbon emissions and our investment in Keepmoat’s regeneration business underlines our long-term commitment to the UK as it transitions to a lower-carbon economy. “This transaction will also support our growth ambitions for decentralised energy networks and our home energy business as the regeneration activities will bring us closer to the end customer.” • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette