Banner Homes Group PLC

Advice to the management team on the sale to CALA Group Limited.

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Published: 23 Mar 2014 Updated: 13 Apr 2022

Smith & Williamson advises the management team of Banner Homes on the sale to CALA Group Limited

Banner Homes, one of the UK’s leading independent luxury house builders, has been acquired by CALA Group Limited (“CALA” or “the Group”), the UK’s major upmarket home builder. Smith & Williamson Corporate Finance’s team of Brian Livingston and Andy Pedrette advised the Banner management on the rollover of their equity interests into the enlarged CALA Group.

CALA Group stated: “As a developer of high specification, luxury homes, operating across central and southern England, Banner represents a perfect strategic fit for CALA which focuses on upmarket, family homes within affluent locations in the south of England, the Midlands and Scotland.
Founded in 1975 in Beaconsfield, Banner Homes currently operates from 21 sites across three regional operational centres in the northern Home Counties, the southern Home Counties and the Midlands.

Banner sold 235 homes during the twelve months to May 2013 at a private average selling price of £511,000, resulting in revenues of £111m and operating profit of £16.4m at a gross margin of 24%. Banner’s land bank has almost 1,100 units, providing the business with a very strong platform for future organic growth.”
Piers Banfield of the Banner management team commented: “Smith and Williamson provided an exceptional and personal service throughout what was a highly complex engagement. They gave us creative and practical advice, demonstrating their clear understanding of the valuation metrics in the housebuilding industry. Without their assistance we would not have achieved the ultimate result.”

Brian Livingston, Head of M&A, added: “This transaction is further evidence of the resurgence of the UK housebuilding sector and we see consolidation in the sector continuing, as companies seek to build upon their market position.”

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

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Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has eleven offices; these are in London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.

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This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.