PORTFOLIO — BUSINESS SERVICES

Morro

One of the Midlands’ most respected developers of affordable homes delivering new build and regeneration schemes for Local Authorities and Registered Providers

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Key Facts

Initial investment: 09/03/2022

Sector – Business Services

Fund — Buyout Fund IV

Status — Current

Investment highlights

  • Supported the business with regional expansion into the East Midlands by opening a new office in Leicester and expanding the number of regional partners the business works with.
  • Driven a change in site mix from historical tender-led approach towards a more value-add land led model.
  • Opened the Morro Innovation Centre to deliver in-house manufacture of timber frames and support innovation across Modern Methods of Construction (MMC).
  • Supported the business to become the UK’s first SME housebuilder with a validated Science Based Target with a commitment to reduce Scope 1 & 2 emissions by 42% by 2030.
  • Introduced specialist procurement consultants to undertake a supply chain review and help the business to establish rebate agreements with key suppliers.

Partnership Motivation

Clive and his team have grown Morro into a trusted, valued and longstanding partner to housing providers in the Midlands with an enviable reputation for quality and delivery.

With a growing demand for affordable homes, our backing will enable Morro to support more local authorities and registered providers as they seek to ease the housing crisis, further demonstrating the positive impact private equity can have on the economy and society.

“The addition of Chris and Matt to our leadership team and the backing of an investor with an excellent track record in our market marks the start of an exciting period of growth for Morro, presenting new opportunities for our fantastic employees, suppliers and customers.

Palatine have a deep understanding of our market and the expertise to further develop our already strong ESG credentials, at a time when this is of growing importance to our customers across the public and social housing sectors.”

Clive Jessup
Chief Executive Officer – Morro

Investment Team