Ilke Homes pulls off £100m record-breaking fund raise

Aaron Morby 1 year ago
Share

Modular housing specialist ilke Homes has raised a record-breaking £100m from new and existing shareholders.

US-based investor Fortress led the equity investment fundraise, with existing shareholders TDR Capital and Sun Capital also subscribed.

The new funding will help ilke Homes scale-up its operations and open a new factory that will increase output capacity to 4,000 homes a year, creating over 1,000 new jobs in the UK.

Giles Carter, CEO at ilke Homes, said: “Our latest fundraise demonstrates that the private sector is increasingly recognising the investment case for change.

“With the race to net-zero well and truly underway, the next few years will be a decisive time in the history of housebuilding, so it’s important that true market disruptors are empowered to play a leading role.

“Having pioneered a zero-carbon, zero energy bills solution in partnership with Octopus Energy and Gresham House, the new monies will allow us to roll out our proven concept across the country.”

Ilke will also invest heavily in automating more of its manufacturing processes to further drive productivity.

Carter said that this would in turn enable ilke to secure more sites and expand its ‘package deal’ strategy, which offers full development service of land, infrastructure and homes.

Founded just five years ago, ilke Homes said it is now delivering over 1,000 homes a year and has secured a pipeline of over 4,000 homes, putting it on par with some of the UK’s biggest house builders.

The modular specialist has seen revenue grow by over 150% year-on-year, but has still to report a profit, running up aggregated losses of £107m since being set up in 2017.

In June, ilke Homes launched a partnership with Octopus Energy and Gresham House that is rolling out the UK’s first homes to guarantee residents zero energy bills.

The first homes will be delivered at a site in Stanford-le-Hope, Essex where ilke Homes is delivering a 153-home scheme.

Around 100 of these homes will be zero-carbon in operation – the most delivered on a single site in the UK.

Latest news

Geoffrey Osborne files administration notice

Contractor in talks to save parts of the business
19 hours ago

RG Group signs £121m Newcastle rental homes job

Developer Olympian Homes advances 519 flats plan at Pottery Lane site
16 hours ago

Winners named for £260m Manchester Uni framework

B&K, Henry Bros, Graham, Robertson and Vinci among new line-up
19 hours ago

Shed specialist Benniman rides out market lull

Worcestershire warehouse builder says industrial and logistics work is picking up again
18 hours ago

Another contractor cleared after high profile immigration raid

Adana Construction employees were working legally on site swooped on by Home Office
18 hours ago

McAleer & Rushe wants to meet new London suppliers

Contractor holding Meet the Buyer event in London: Register now
19 hours ago

McAlpine signs £500m Broadgate dual towers deal

Work to start on iconic 36-storey and 21-storey towers
2 days ago

Worker rescued from collapsed four metre deep trench

Fire crews take six hours to save trapped builder near Blackwall Tunnel
2 days ago

Gove puts another major building scheme on hold

Secretary of State starts another planning fight after M&S defeat
3 days ago

Greenwich University tenders £300m framework

Up to five firms will carry out upgrade and newbuild work at three campuses
2 days ago

Work starts on Manchester 26-storey Obsidian tower

Contractor Domis starts Salboy's 10th Manchester scheme in seven years
2 days ago

Race for £1.3bn West Midlands social homes framework

The Community Housing Group reboots tender race for new build housing
2 days ago

Delancey submits £400m King’s Cross lab plans

200,000 sq ft lab/office project will be built above railway and tube tunnels just 4.5m below
2 days ago

Winners revealed for £150m fire safety framework

New deal will help organisations comply with the Building Safety Act
2 days ago

Sellar plans £500m City tower next to Walkie-Talkie

Consultation starts on London 60 Gracechurch Street tower
3 days ago

Severfield ends year on high with record order book

Orders top £500m with strong future pipeline of opportunities ahead
3 days ago

Second senior director exits National Highways

Commercial director Malcolm Dare set to move on to new role
3 days ago

New scheme fuels London lab building boom

Plans in for 160,000 sq ft Whitechapel scheme near Royal London hospital
3 days ago

Contract race starts for next £155m section of A9 dualling

Prior Information Notice published for Tay Crossing to Ballinluig stretch
3 days ago

£55m Sheffield build-to-rent scheme approved

Demolition to start later this year for 158-flat Sheffield Garden project
3 days ago

London back as most expensive place to build in world

Capital leapfrogs Geneva to top costliest construction rankings
4 days ago

Gas supplier Regent to buy TClarke for £90m

£491m turnover listed building services specialist to be sold
4 days ago

Steel contractor Billington launches into bridge market

Steelwork firm hires staff from failed architectural and bridge specialist SH Structures
4 days ago

McGee employees benefit from rise in profits

Pre-tax profit doubles boosting payouts for Employee Ownership Trust
4 days ago

Lendlease veteran is latest new McAlpine director

Paul Sims joins as Operations Director after 40 years at rival contractor
4 days ago

Costain signs site labour supply deal with four firms

Contractor to use only a quartet of providers for temporary labour supply
4 days ago

BAM go-ahead for Leeds 200,000 sq ft office

Latitude Yellow will complete final plot at Doncaster Monk Bridge site
4 days ago

VolkerFitzpatrick wins £30m logistics job

Latest deal to build five distribution units for Prologis UK
4 days ago

Trio win new Scape utilities consultancy framework

Perfect Circle, AtkinsRéalis and Arcadis win places on
4 days ago

Precast firm FP McCann cleared after immigration raid

Home Office takes no action after public raid on construction site
5 days ago

Contractor services