Home Sweet Home

Home Sweet Home

It’s fair to say that most of us have seen more of the inside of our homes this year than in any previous year. In fact, thanks to video conferencing, most of us are almost as familiar with the homes of our colleagues.

For those who have not been economically affected by the pandemic, savings have likely been made in respect of funds which would otherwise have been used for overseas holidays or perhaps going out and socialising more often than has been possible, as well as the costs of commuting.

Many people have therefore looked to invest those funds in improving the home in which they increasingly find themselves. There has been a boom in domestic extensions, loft conversions, and outbuildings which can serve as home offices. This sector of the economy and suppliers to it have therefore fared well for the most part this year, making it an attractive sector for investment, whether that be by acquisitions to grow market share and geographic spread by existing players in those markets, or investment by private equity houses.

Simon Carin is a corporate finance specialist at Azets with significant experience running businesses in the construction sector. Simon is helping to identify potential transactions in the sector and stated that “COVID-19 has and is driving a change in the way people look at their homes; now a place to live, work and play rather than simply somewhere to stay. The challenges around resilience, mental and physical fitness arising from lockdown, is driving consumer spend to make home improvements in lifestyle and wellbeing as well ascreating space, privacy and comfort.

There are 15 sub-sectors that are very likely to grow beyond the initial spike arising from lockdown. We are focusing on a number of these to help bring together potential buyers and sellers of businesses. Many of these businesses are known to us from  our network in the sector, and that always helps when it comes to making initial contact and introductions.”

Craig Coyle, the head of Property and Construction in Scotland said “using our combined industry knowledge and the reach of Azets both in the UK and in the Nordics we can help source buyers and acquisition targets for businesses in this thriving sector, and utilize our specialist tax and corporate finance teams to ensure the transactions are structured in the most tax efficient way. The construction sector has always been a key player in the Scottish economy, and it is good to see some parts able to benefit in what has otherwise obviously been an exceptionally challenging business year”.

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