Edinburgh housebuilder Miller Homes names new boss after change at the top

Miller Homes has a new boss after a shake-up at the top of the Edinburgh-headquartered housebuilder.

By Scott Reid
Thursday, 3rd March 2022, 1:36 pm

Stewart Lynes is to be appointed as chief executive, succeeding current incumbent Chris Endsor, who will become executive chairman. The changes will be effective from the end of March.

Lynes, who will assume responsibility for the overall management of the business, joined Miller Homes 15 years ago and has held various senior positions during that time including chief operating officer since 2019.

The firm said that he has “consistently demonstrated his passion and enthusiasm”, while driving the successful delivery of the company’s strategy and track record.

Stewart Lynes is being promoted to CEO of Miller Homes.

Endsor will step up to the role of executive chairman with responsibility for leadership of the board and will work closely with Lynes to develop and support the group’s strategy for further growth.

Miller Homes currently builds some 4,000 homes a year across the UK, predominantly in Scotland, the north of England and the Midlands, with ambitions to grow to 6,000 units in the medium-term. It recently announced the opening of its tenth regional office, in Northampton, to cover the south Midlands.

Endsor said: “This is a very exciting time for the business and these changes have been planned for several years to ensure business continuity as we move into the next phase of our growth strategy.

“Stewart is an exceptional leader, the unanimous choice of the board, and we have every confidence in him.

“As executive chairman, I look forward to continuing to work closely with him and all of the Miller Homes team to further enhance our position as a leading UK homebuilder of quality family homes.

“I would also like to express my sincere gratitude to John White who will step down as chairman from the end of March for his support and commitment to Miller Homes over the last four years. The board and I wish him well for the future.”

Lynes added: “It will be a privilege to step up to CEO at an important time for Miller Homes. We have an exceptional team and our position as one of the country’s leading homebuilders means we are well placed to continue our strong performance trajectory.

“I look forward to leading the business and continuing our strategy of building high quality homes in our core regional markets and creating value for all of our stakeholders.”

In December, it emerged that Miller Homes was being acquired by funds managed by Apollo, taking on the firm from fellow private equity giant Bridgepoint Group. The existing management also participated in the deal.

Financial terms were not disclosed. Miller Homes, which recently said it was planning more than 500 new houses in “key” locations across east Scotland, was acquired by Bridgepoint for £655 million in 2017.

The Scottish housebuilder was established in 1934 and is focused on family homes in regional markets in Scotland and England.

Alex Humphreys, a partner at Apollo, said: “Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand.”

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Private equity giant Apollo acquiring Edinburgh-headquartered Miller Homes

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