Housebuilder Persimmon has appointed KPMG to handle the sale of Beazer Partnerships and its two Torwood timber frame prefab factories.
A memorandum of sale has been sent out and the sale will happen ‘sooner rather than later’ according to Richard Finlinson, chairman of Beazer’s social housing partner the Amphion Consortium.
However, he is mildly disturbed by reports in the financial press that housebuilder Countryside Properties has shown an interest – but only in Beazer and not the Torwood plants. He said: ‘Ideally we would like the two operations to stay together so we have a builder on site who is the constructor of the units.’
A source close to those hoping to conclude a management buyout of both Beazer and the Torwood plants said: ‘How can you justify splitting the business when one aspect relies on the other. Programmes like Amphion have an interrelationship between manufacturing and on-site design and build.’
Mr Finlinson said a number of people apart from the MBO and Countryside were interested in the Torwood plants and Beazer Partnerships.
