Persimmon

#2734

Rank

$4.37B

MarketCap GB

GB United Kingdom

Country

Summary
Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; executive housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.

History

Persimmon was founded by Duncan Davidson in 1972. After leaving George Wimpey, Davidson had formed Ryedale Homes in 1965, selling it to Comben Homes in 1972 for £600,000. Davidson restarted development again in the Yorkshire area; Persimmon began to expand regionally with the formation of an Anglian division in 1976 followed by operations in the Midlands and the south-west. In 1984, Persimmon bought Tony Fawcett’s Sketchmead company; Fawcett had been a director of Ryedale and he became deputy managing director at Persimmon. The enlarged company was floated on the London Stock Exchange in 1985, by which time the Company was building around 1,000 houses a year.Steady regional expansion took volumes up to 2,000 by 1988 with a target of 4,000 following the housing recession. Tony Fawcett had died in 1990 and in 1993 John White was appointed as chief executive with Davidson remaining as an executive chairman. In 1995, Persimmon made the first of a series of major acquisitions. Ideal Homes, once the largest housebuilder in the country and then part of Trafalgar House was bought for £176m giving the Group a much stronger presence in the south-east. This was followed by the purchase of the Scottish housing business of John Laing plc and Tilbury Douglas Homes.In 2001, Persimmon acquired Beazer Homes UK, for £612m, taking output to over 12,000 a year. The deal came about after Beazer and Bryant announced a 'merger of equals' to create a new house builder called Domus. However, Taylor Woodrow stepped in with a £556 million bid for Bryant, and Persimmon bought Beazer, a company named after its founder Brian Beazer, and originally started in Bath. The acquisition of Beazer brought with it Charles Church, an upmarket housing business founded by Charles and Susanna Church in 1965.In January 2006, Persimmon acquired Westbury, another listed UK house builder, for a total consideration of £643 million.


Key Team

Mr. Martyn Clark (Chief Commercial Officer)

Paul Hurst (UK Managing Director)

Tracy L. Davison (Company Sec.)

Mr. Peter Jordan (Group Planning & Land Director)


References
Persimmon
Leadership team

Mr. Dean Kendal Finch ACA, B.Sc, M.B.A (Group Chief Exec. & Exec. Director)

Mr. Duncan H. Davidson (Founder & Life Pres)

Mr. Jason Michael Windsor (Chief Financial Officer)

Products/ Services
Hardware, Manufacturing, Robotics, Semiconductor
Number of Employees
1,000 - 20,000
Headquarters
Wakefield, Massachusetts, United States
Established
2010
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
PSN.L
Social Media
Sun Mar 03 2024
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