A Travers Smith team led by private equity partner James Renahan and senior associate Matthew Kichenside have advised management on the sale of Keepmoat. Sun Capital and TDR Capital have agreed to buy the Doncaster-based homebuilder and provider of social housing for a reported £400 million. Completion is expected to occur by the end of November 2014 and is subject to regulatory clearances.

A national market leader in sustainable community regeneration, Keepmoat offers a complete solution in creating and maintaining better communities – from building new homes and public buildings, to responsive maintenance and repairs. With sales of nearly £1 billion it employs more than 3,000 dedicated staff across 22 regional offices. In the year to March 2014, Keepmoat had revenues of £930m, with nearly 2,000 properties sold by its homes division.

The acquisition by Sun Capital and TDR Capital is designed to support the long-term growth ambitions of Keepmoat and is a significant investment at the time of increased demand for new and improved homes and communities.

The Travers Smith team also included tax partner Russell Warren and tax associate Maudie Leach.

Other advisers on the transaction included J.P. Morgan Cazenove (who acted as Financial Adviser to the Keepmoat Board of Directors), Allen & Overy (who acted for the sellers) and Pinsent Masons (who acted for Sun Capital and TDR Capital).