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McCarthy Stone

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McCarthy & Stone Limited
McCarthy Stone
Formerly
  • McCarthy & Stone Limited (2009?2015) [1]
  • McCarthy & Stone plc (2015?2021) [1]
Industry Housebuilding
Founded 1977
Headquarters Bournemouth , England, United Kingdom
Key people
Revenue ￡ 725.0 million (2019) [2]
￡48.4 million (2019) [2]
￡34.9 million (2019) [2]
Number of employees
2,433 (2019) [2]
Parent Lone Star Funds
Website mccarthyandstone .co .uk Edit this at Wikidata

McCarthy & Stone Limited , trading as McCarthy Stone , is a developer and manager of retirement communities in the United Kingdom. It was acquired by Lone Star Funds in 2021.

History [ edit ]

John McCarthy and Bill Stone became partners in 1961, and in 1977 they built their first retirement housing development in Hampshire . Subsequently they ceased other building work to concentrate on developing specialist housing for elderly people. [3] By 1982, when the company was floated on the Unlisted Securities Market , the company had completed 15 retirement housing developments and was selling around 200 units a year. [4] Growth was rapid after the flotation, and by 1984 the company operated on a national basis with annual sales approaching 1,000 units. The business was exceptionally profitable due to a rapidly ageing population. [3] Annual sales reached 2,601 units in 1988. [3]

The company was de-listed from the London Stock Exchange in 2006 following a successful takeover bid of over ￡1 billion from a consortium including David and Simon Reuben and Sir Tom Hunter . [5] The company was refinanced in 2013 under new ownership, [6] and re-listed on the London Stock Exchange in 2015. [7]

In 2020, the directors accepted a takeover bid from American private equity investment firm Lone Star Funds . [8] Shareholders approved the takeover offer worth ￡647m. [9] [10]

In 2021, the company announced a new investment partnership with Macquarie and John Laing to finance its new rental portfolio. [11]

The company is the only UK developer, of any size or type, to win the full five-star rating in the Home Builders Federation 's customer satisfaction awards every year the survey has been run. [12]

Services [ edit ]

The company's development in Poole, Dorset
McCarthy & Stone Head office in Bournemouth UK
The company's head office, Bournemouth

The company's in-house Services teams operate its Retirement Living and Retirement Living PLUS (Extra Care) schemes built since 2010. [13] In its Retirement Living PLUS schemes, services include the provision of CQC-regulated care and support. It is also the largest provider of new Extra Care developments in the UK. [14]

It remains as the landlord and managing agent on all developments opened since 2010, and hence is legally responsible for the operation of these schemes. [15]

As of 2018, the company provides a choice of tenure including rental and affordable and private shared ownership, an expanded care offering and more products. [16]

Awards [ edit ]

Year Award
2022 Great Place to Work Wellbeing List 2022 [17]
2021 Customer Satisfaction Five Star Award [18]
2020 Housing with Care Award [19]
2019 Housing for Older People Awards [20]
2019 NHBC Health and Safety Awards [21]
2019 Customer Satisfaction Five Star Award [22]
2018 Housebuilder Awards [23]
2018 ARMA ACE Awards [24]
2018 NHBC Health & Safety Awards [25]

Charity initiatives [ edit ]

In 2017, the company raised over ￡250,000 for the Royal Voluntary Service. [26] The company's charity partner for 2019 was Beanstalk, a national learning and literacy charity for young children. [27] The company has also supported several smaller charities. [28]

In 2020, it established the McCarthy Stone Charitable Foundation, which raised ￡230,000 in its first year. [29]

References [ edit ]

  1. ^ a b "McCarthy & Stone Limited overview - Find and update company information - GOV.UK" . Companies House . 17 June 2008 . Retrieved 23 February 2024 .
  2. ^ a b c d "Annual Report and Accounts 2019" (PDF) . McCarthy Stone . Retrieved 3 March 2020 .
  3. ^ a b c Wellings, Fred: Dictionary of British Housebuilders (2006) Troubador. ISBN   978-0-9552965-0-5
  4. ^ Company Prospectus (1982)
  5. ^ "McCarthy's demographic push" . Shares Magazine. 10 March 2016.
  6. ^ "New McCarthy & Stone boss wields the axe" . Construction Index. 6 March 2014 . Retrieved 10 February 2016 .
  7. ^ "McCarthy & Stone prices IPO at 180p per share" . Digital Look. 6 November 2015 . Retrieved 10 February 2016 .
  8. ^ "McCarthy & Stone board backs US private equity takeover" . The Construction Index . 23 October 2020 . Retrieved 23 October 2020 .
  9. ^ "McCarthy & Stone shareholders vote in favour of ￡647m takeover deal" . Evening Standard . 8 December 2020 . Retrieved 8 December 2020 .
  10. ^ Gardiner, Joey (29 January 2021). "Lone Star takeover of McCarthy & Stone to complete today" . Housing Today . Retrieved 26 March 2021 .
  11. ^ MarketScreener. "John Laing : Macquarie Group Limited - McCarthy Stone's UK retirement living rental portfolio secures finance from John Laing and Macquarie Capital | MarketScreener" . www.marketscreener.com . Retrieved 4 January 2022 .
  12. ^ "McCarthy & Stone Sheffield team award winners again for 14th consecutive year" . www.thestar.co.uk . Retrieved 17 March 2022 .
  13. ^ Pamben, Deven (31 July 2019). "McCarthy & Stone to deliver care services directly" . LaingBuisson News . Retrieved 4 January 2022 .
  14. ^ Peart, Lee (31 July 2019). "McCarthy & Stone parts ways with Somerset Care and launches own extra care services" . Care Home Professional . Retrieved 4 January 2022 .
  15. ^ "McCarthy Stone Great Place to Work UK | The global authority on workplace culture" . www.greatplacetowork.co.uk . Retrieved 17 March 2022 .
  16. ^ "Modular Construction and the Specialist Housing Sector" . www.housinglin.org.uk . 2 May 2019 . Retrieved 4 January 2022 .
  17. ^ "UK's Best Workplaces for Wellbeing 2022" . www.greatplacetowork.co.uk . Retrieved 17 March 2022 .
  18. ^ "Record-breaking award for customer satisfaction" . Retiremove . 30 March 2021 . Retrieved 17 March 2022 .
  19. ^ ncompass. "LaingBuisson Awards 2020 Book of the Night" . LaingBuisson Awards . Retrieved 4 January 2022 .
  20. ^ "Regional and National Results" . Housing Awards . Retrieved 18 December 2019 .
  21. ^ "Archive 2019 | NHBC" . www.nhbc.co.uk . Retrieved 18 December 2019 .
  22. ^ "CSS Star rating results" . www.hbf.co.uk . Retrieved 18 December 2019 .
  23. ^ "Housebuilder Awards 2018" . www.house-builder.co.uk . Retrieved 18 December 2019 .
  24. ^ "2018 Winners & Finalists ? ARMAAwards" . awards.arma.org.uk . Retrieved 18 December 2019 .
  25. ^ "Award-Archive-2018 | NHBC" . www.nhbc.co.uk . Retrieved 18 December 2019 .
  26. ^ "McCarthy & Stone raises more than ￡250,000 for RVS" . PHPD Online . 9 April 2018 . Retrieved 18 December 2019 .
  27. ^ "McCarthy & Stone 2019 charity partnership" . Coram Beanstalk . Retrieved 18 December 2019 .
  28. ^ "McCarthy and Stone seeks local charity to support" . Hereford Times . Retrieved 18 December 2019 .
  29. ^ "Read our 2021 Impact Report" . McCarthy Stone Foundation . 16 December 2021 . Retrieved 17 March 2022 .

External links [ edit ]

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