Backing for social housing contractor marks HBOS's latest move into the housing sector

HBOS has extended its foray into the housing sector by backing a £783m management buyout of social housing contractor Keepmoat.

David Blunt
Blunt: Transaction will allow company to develop.

The move comes a fortnight after HBOS took a stake in social housing maintenance specialist Apollo, and follows its earlier takeovers of Crest Nicholson and McCarthy & Stone.

Under the deal, Keepmoat will become a minority shareholder in the business, alongside the management team led by chief executive David Blunt.

Blunt said: “Over the last 75 years the company has achieved outstanding growth in the regeneration sector… This transaction will allow us to provide a greater platform for these efforts and allow the whole company to continue to develop.”

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