Energy services group ENGIE has acquired the regeneration division of UK housebuilder Keepmoat for £330 million.

As part of the sale, Keepmoat Homes will continue its growth strategy under the Keepmoat brand.

TDR and Sun Capital, who purchased Keepmoat in 2014, will continue investing in Keepmoat Homes, which has an annual turnover of around £800m.

With a £1 billion order book and a £9bn pipeline of UK regeneration opportunities, ENGIE Chief Executive Officer Isabelle Kocher said the acquisition is "closely aligned with ENGIE's strategy and is a major step in our development in the United Kingdom".

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"It will help the Group to accelerate its growth in customers solutions, one of its strategic priorities, and to expand our offers to cities, complementing the energy and facility management solutions that we already provide in the country," she said.

"Today, buildings account for approximately 30% of UK carbon emissions and we are convinced that with the addition of Keepmoat's renovation expertise, we will be better able to support local authorities and cities in their transition to a lower carbon future."

Keepmoat chief executive Dave Sheridan, who will also join ENGIE, added: "The regeneration business has exciting prospects as part of ENGIE. It is very clear that ENGIE shares our belief that by working in partnership with local authorities and registered providers we can help cities and communities improve the places where people live."

(LM/MH)