Wilson Bowden considering £2 billion sell-off

Dec. 1, 2006
<p>Consolidation fever is continuing to sweep through the industry, as news emerged that Wilson Bowden is considering a sell-off for an estimated £2 billion. The news was sparked by the decision of chairman and founder David Wilson, 64, to ask investment bank Rothschild to review the family’s 33% stake in the Leicester-based business. This led to expressions of interest from a number of potential purchasers during summer. The board, headed up by chief executive Ian Robertson, has now decided to ask HSBC to explore the option of auctioning off the business, confirming that it is “in preliminary discussions with a number of parties.”</p> <p>George Wimpey, Redrow and Bellway are said to be interested, along with private equity vehicles including HBOS, which is currently backing Sir Tom Hunter’s £660 million bid for Crest Nicholson. Wilson Bowden is the nation’s seventh largest housebuilder, with turnover expected to top £1 billion this year. The David Wilson Homes brand built 2,135 units during the first half of the year, turning over £443.3 million in this period. The firm acquired north west-based housebuilder Roland Bardsley Homes for £49.7 million in April, and reported a healthy 20,000- plot landbank in its September interim statement.</p> <p>David Wilson …

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