Taylor Wimpey

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Taylor Wimpey plc
Type Public limited company
Traded as LSETW.
Industry Housebuilding
Founded 2007
Headquarters London, United Kingdom
Key people Kevin Beeston (Chairman)
Pete Redfern (CEO)
Revenue £2,295.5 million (2013)[1]
Operating income £309.7 million (2013)[1]
Net income £271.1 million (2013)[1]
Website www.taylorwimpey.co.uk

Taylor Wimpey plc (formerly Taylor Woodrow plc) is one of the largest British based housebuilding companies. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Its corporate headquarters are in London and its UK operational headquarters are in High Wycombe.

The company was created from the merger of rivals Taylor Woodrow and George Wimpey on 3 July 2007.[2]

History[edit]

Taylor Woodrow[edit]

Taylor Woodrow was founded in 1921 by 16-year old Frank Taylor, who borrowed some money to build two houses in Blackpool. As he was too young to form his own company, his uncle Jack Woodrow lent his name to the business, and so it became Taylor, Woodrow Limited.[3]

In the 1930s, Taylor Woodrow diversified into building temporary hospitals etc., and thereby moved into general construction.[3] Between 1945 and 2001 Taylor Woodrow's main operations were in general construction with Taylor Woodrow Homes only being a small part of the Group.

In January 2001 this changed as Taylor Woodrow acquired Bryant Group, a business founded in Birmingham in 1885 by Chris Bryant, for £556 million[4] and in October 2003 Taylor Woodrow acquired Wilson Connolly in a cash and shares deal worth £499 million.[5]

George Wimpey[edit]

George Wimpey was founded by George Wimpey and Walter Tomes (the latter sold out in 1893) as a stone-working partnership in 1880 in Hammersmith.[3]

George Wimpey died in 1913 at the age of 58. His family put the business up for sale in 1919. Godfrey Way Mitchell bought the firm and decided to retain the Wimpey name.[3] George Wimpey completed its first residential development, the Greenford Park Estate, in 1928.[3]

In the 1970s George Wimpey became the UK's largest private house builder selling 106,440 homes in the decade, and in the 1980s George Wimpey began to reinforce Wimpey Homes as a brand, focusing on quality compact housing. Advertising, featuring the famous Wimpey cat, ensured Wimpey Homes became a household name in house building.

George Wimpey also had operations in Australia, Austria, Borneo, Canada, Hong Kong, Iraq, Jamaica, Kuwait, New Guinea, Syria and the United Arab Emirates.

In 1996 George Wimpey acquired McLean Homes, a business founded in the 1934 by John McLean, from Tarmac.[6] In 2001 McAlpine Homes was acquired from Alfred McAlpine in a £463 million deal[7] and in 2002 George Wimpey went on to acquire Laing Homes, a premium housebuilder, from John Laing for £295 million.[8]

Post-merger[edit]

In September 2008 Vinci bought the UK operations of Taylor Woodrow Construction[9] and in April 2009 the remaining activities of Taylor Woodrow Construction in Ghana were sold to management.[10] Then in March 2011 a property investment group backed by private equity firms acquired Taylor Wimpey's American and Canadian housebuilding businesses.[11]

Operations[edit]

Taylor Wimpey’s United Kingdom operations are increasingly focused on the Taylor Wimpey brand with historic brands (Bryant Homes, George Wimpey, Laing Homes and G2) being phased out. Taylor Wimpey's corporate head office is located at Gate House in High Wycombe. There are 24 regional offices in the UK.[12]

Sponsorships[edit]

Taylor Wimpey was the main sponsor of St. Johnstone F.C. for the 2009 to 2011 football seasons.[13]

References[edit]

External links[edit]