Apollo sells 30% Miller Homes stake
- Apollo (NYSE:APO) agreed to sell an approximately 30% minority stake in UK housebuilder Miller Homes to Daiwa House.
- Apollo-managed funds will remain Miller Homes’ controlling shareholder after the transaction closes.
- The investment is intended to support Miller Homes’ growth plans, including a stated target of delivering 7,000 homes annually.
Apollo Global Management (NYSE:APO) agreed that Apollo-managed funds will sell an approximately 30% minority stake in UK housebuilder Miller Homes to Daiwa House, while continuing as the company’s controlling shareholder.
The transaction follows Apollo Funds’ acquisition of Miller Homes in 2022, after which the company said it expanded its operations and integrated St. Modwen Homes into its business.
The investment from Daiwa House remains subject to closing conditions, including regulatory approvals, and is expected to complete later this year, with the funds intended to support Miller Homes’ continued expansion of its multi-tenure housing model.
Miller Homes was founded in 1934 and operates as a UK housebuilder across England, Scotland and Wales, currently completing about 5,000 homes per year.
Apollo stated that the company is working toward a target of delivering 7,000 new homes per year, while Daiwa House’s investment will provide additional support for Miller Homes’ planned growth.
