Keepmoat Homes

Building a scale provider in a growth niche
Leading housebuilder focused on building high-quality affordable homes in nine regions across the UK

Keepmoat develops homes targeted at the affordable, first-time buyer market in areas outside London.

Keepmoat typically develops brownfield land in partnership with local authorities, delivering high-quality homes primarily for the private sale market.

  • At a glance
  • Status: Realised
  • Exit Type: Financial Buyer
  • Deal Type: Private Sale
  • Sector: Business Services
  • Exit Date: October 2021
  • Initial Investment Date: November 2014
  • Website:


Our involvement in the UK social housing sector dates back to 2008 when we were first involved with VPS Holdings which, which, amongst other activities, provided property and security services to the social housing sector in the UK.

We identified Keepmoat as the leading player within the social housing maintenance industry as well as having a smaller but high-quality house-building business targeting the affordable housing market. However, at the time Keepmoat’s growth objectives were constrained by its capital structure. Due to our insight into the business and industry  we were well positioned to acquire Keepmoat and completed the transaction in November 2014.

In May 2017, we sold Keepmoat’s social housing maintenance division (Keepmoat Regeneration) to ENGIE – a French conglomerate.

During TDR’s investment

  • We led investment in geographical expansion of the Keepmoat Homes business, increasing the number of operating regions from four to nine, more than doubling the capacity of the business
  • Keepmoat Homes is now the market leader in the provision of affordable housing for private sale, constructing c. 4,000 new affordable homes per year
  • After a competitive sale process, in October 2021, we sold Keepmoat Homes to Aermont Capital
Houses built a year
Regions of operation across the UK
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