Pret A Manger owner Bridgepoint is eyeing a £655m deal to snap up private housebuilder Miller Homes, it emerged today.
The private equity giant is currently in talks with Miller Homes shareholders including GSO, a division of Blackstone, as well as Lloyds and Coller Capital.
The Edinburgh-based firm – which focuses on the north of England, the Midlands and central Scotland – built nearly 2,500 homes last year.
The housebuilder reported a 44 per cent boost to pre-tax profit to £89.3m last year, with an average selling price of £231,000.
Revenue rose 13 per cent on 2015 at £565m, with operating profit 31 per cent higher at £103m.
In 2014, Miller Homes axed plans to float on the London Stock Exchange. At the time, it hoped to raise £140m by selling off at least 40 per cent of the company.
The housebuilder's parent company, Miller Group, was founded in Edinburgh in 1934 and expanded into England in the late 1940s.
Spokespeople for both Bridgepoint and Miller Homes declined to comment.