Avant Homes
Liberty advises the management team of Avent Homes Group on its acquisition by Berkley DeVeer and Elloitt Advisors
LPrivate developer Berkeley DeVeer has partnered with funds advised by Elliott Advisors (UK) Limited, an affiliate of global fund manager Elliott Investment Management L.P., to acquire Avant Homes Group
Avant Homes operates in high growth markets in the North of England and Scotland. Avant Homes currently has 60 live developments being delivered across five regions in the Midlands, Yorkshire, North East England and Scotland. It currently delivers approximately 2,000 homes each year, has a turnover of circa £500m and employs around 780 people. Berkeley DeVeer currently operates across Yorkshire and the North East of England.
Under its new ownership, Avant Homes will continue to be led by the existing management team. As previously announced, COO Mark Mitchell will become CEO on May 1. Jeff Fairburn, currently CEO of Berkeley DeVeer, will become Chairman of Avant Homes.
Liberty advised the management team of Avant Homes, led by Mark Mitchell and Giles Sharp, on their incentive arrangements under the new ownership structure.
We are delighted to have secured the backing of new owners who share our long-term vision for the Group. Their backing will provide us with additional means to push on with our growth plans as we seek to double our revenues and triple our profits over the next five years
Mark Mitchell
Incoming CEO
It was great to work again with Mark and Giles and help them agree terms with new owners who share their vision for growing the business based on its strong foundations. They have achieved outstanding results over the past six years and I look forward to seeing them to continue to do so with Berkeley DeVeer and Elliott Advisers backing.”
Michael McDonagh
Partner
+44 (0) 7715 705 000
michael.mcdonagh@libertycf.co.uk