Taylor Wimpey
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| Type | Public limited company |
|---|---|
| Traded as | LSE: TW. |
| Industry | Housebuilding |
| Founded | 2007 |
| Headquarters | London, United Kingdom |
| Key people | Kevin Beeston (Chairman) Pete Redfern (CEO) |
| Revenue | £2,603.3 million (2010)[1] |
| Operating income | £184.2 million (2010)[1] |
| Net income | £259.3 million (2010)[1] |
| Website | Taylor Wimpey Plc |
Taylor Wimpey plc (LSE: TW.) (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]
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[edit] History
[edit] Taylor Woodrow
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]
[edit] George Wimpey
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]
[edit] Post merger
The completion of the merger between Taylor Woodrow and George Wimpey took place on 3 July 2007.[2]
[edit] Operations
Taylor Wimpey's Corporate Headquarters are located at 80 New Bond Street in London.[9] There are over 20 regional offices in the UK.
[edit] Current
[edit] United Kingdom housebuilding
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.
[edit] Other
The Taylor Wimpey group also owns Prestoplan, a specialist timber frame manufacturer, and distribution firm Taylor Wimpey Logisitics (TWL).
[edit] Former
[edit] North America housebuilding
These operations were sold in July 2011. Taylor Wimpey’s North America operations were based around three core brands: Taylor Morrison, Taylor Woodrow Communities and Monarch.
Taylor Wimpey had a substantial house building operations in certain parts of the USA, and was the tenth largest in the country. These operations were marketed under the brand 'Taylor Morrison' in California, Arizona, Texas, and Florida. Taylor Morrison builds a range of traditional single family homes and more compact attached town homes.
Taylor Wimpey also had a housebuilding business in Canada, which principally traded in the Ontario area under the 'Monarch' brand. In 1994 Monarch entered into the high-rise sector.
[edit] Taylor Woodrow Construction
On 9 September 2008 Vinci bought the UK operations of Taylor Woodrow Construction.[10] In April 2009 the remaining activities of Taylor Woodrow Construction were sold to management.
[edit] Sponsorships
Taylor Wimpey was the main sponsor of St. Johnstone F.C. for the 2009 to 2011 football seasons.[11]
[edit] References
- ^ a b c Annual Report 2010
- ^ a b Wimpey and Woodrow agree to merge
- ^ a b c d e Taylor Wimpey: Our History
- ^ Taylor Woodrow buys up Bryant
- ^ Taylor Woodrow to buy Wilson Connolly
- ^ British home builders to swap some assets
- ^ Wimpey buys McAlpine building unit
- ^ Wimpey takes over again as UK's biggest housebuilder
- ^ Closure of Solihull offices
- ^ Vinci buys Taylor Woodrow
- ^ Saints unveil strips for SPL campaign
[edit] External links
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