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Eversheds Sutherland and Addleshaw Goddard advise Morris Homes on £140m capital raising from Atlantic Park Fund

  • Global
  • United Kingdom

    03-03-2021

    Teams from Eversheds Sutherland and Addleshaw Goddard have advised housebuilder Morris Homes on the completion of a £140m capital raising.

    Eversheds Sutherland Corporate Partner Michael Birchall led a team delivering corporate and structuring aspects of the deal, alongside a finance team from Addleshaw Goddard led by Amanda Gray, Divisional Managing Partner, Finance and Projects.

    Morris Homes announced the significant capital raising in partnership with Atlantic Park Strategic Capital Fund, which is contributing £140 million of new capital to Morris to support its continued strong performance and future development. Santander is also providing a £50 million revolving credit facility.

    Mike Gaskell, Executive Chairman and majority shareholder of Morris Homes, said:

    “I am delighted to welcome Atlantic Park as a long-term strategic partner in Morris Homes as the Company seeks to capitalise on the positive tailwinds in the UK housing industry going forward. This also represents an opportunity for me to thank all the employees at Morris Homes for their outstanding commitment over the years and in particular throughout the COVID period.”

    Atlantic Park’s Mike Whitman commented:

    “The UK housing industry possesses attractive fundamentals. We are excited to partner with Mike and the talented team at Morris Homes, with whom our relationship began in 2013, to support the continued growth of the business.”

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