Addleshaw Goddard has advised Terra Firma on the GBP110 million acquisition of Kier Living from leading UK construction and infrastructure company Kier Group.
The AG team was led by Corporate Partner Graham Cross alongside Real Estate Partners William Boss and Cathy Fearnhead.
The sale, due to be finalised over the coming weeks (subject to shareholder approval), will create a standalone UK house building business, to be re-branded Tilia Homes.
Kier Group announced its intention to sell its Living division, which employs around 450 people, in a strategic review in 2019. The business will continue to be run by its existing leadership team.
Lead AG Partner, Graham Cross, says: “We’re delighted to have been able to help Terra Firma bring this transaction to fruition. It continues the trend that we have been seeing this year of supportive investors backing UK businesses notwithstanding the challenges of Covid which can only be encouraging for the economy as a whole as we begin to come out of lockdown.”
