{"id":55462,"date":"2019-04-12T10:04:06","date_gmt":"2019-04-12T09:04:06","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=55462"},"modified":"2019-04-12T10:04:06","modified_gmt":"2019-04-12T09:04:06","slug":"goldman-sachs-invests-75m-in-tophat","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/mmc-news\/goldman-sachs-invests-75m-in-tophat\/55462\/","title":{"rendered":"Goldman Sachs invests \u00a375m in TopHat modular housing"},"content":{"rendered":"

TopHat<\/a> has secured a \u00a375m investment from Goldman Sachs<\/a>. The first residential site to use TopHat\u2019s product is the historic Kitchener Barracks<\/a> in Chatham, Kent, which will welcome residents in the second quarter of 2019<\/span><\/h2>\n

TopHat commenced production in early 2018 at its manufacturing facility in South Derbyshire and has been developing industry-leading technology and manufacturing processes that will shape the UK\u2019s digital construction sector.<\/span><\/p>\n

Kitchener Barracks is a showcase for TopHat\u2019s unique, high quality, and design-differentiated product.<\/span><\/p>\n

As per the Government\u2019s housing white paper, modern methods of construction<\/a>, and volumetric modular housing<\/a>, are instrumental to increasing the delivery of homes and helping to solve the UK\u2019s housing crisis.<\/span><\/p>\n

Jordan Rosenhaus, CEO of TopHat, said: \u201cWe are incredibly excited to have Goldman Sachs as an investor in TopHat. This transaction is a sign of the tremendous progress TopHat has made since it was established and the significant market opportunity in the housing and digital construction sectors in the UK. <\/span><\/p>\n

\u201cWe look forward to engaging with our key clients and stakeholders to partner in delivering more of the high-quality, good value homes that the UK so badly requires.\u201d<\/span><\/p>\n

Tavis Cannell, managing director at Goldman Sachs, said: \u201cTopHat\u2019s technology-driven approach has the potential to make a significant impact on the UK\u2019s housing shortage. <\/span><\/p>\n

“Their speed, efficiency and high standards make them uniquely positioned to drive critical change in the way the industry currently operates and improve the housing supply chain. We look forward to supporting their continued growth.\u201d<\/span><\/p>\n

Gordon More<\/a>, chief investment officer at Homes England, said: \u201cIf we are to increase industry\u2019s capacity to build high quality homes offsite, it\u2019s vital others join us in our mission \u2013 so we welcome today\u2019s announcement by TopHat and Goldman Sachs. <\/span><\/p>\n

\u201cThis represents significant investment in a growing SME business<\/a> that is delivering a real step change in the housebuilding industry. For our part, we look forward to continuing to work with a range of developers to drive innovation and make homes happen.\u201d<\/span><\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

TopHat has secured a \u00a375m investment from Goldman Sachs. 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