Browning West Issues Statement of Support for Merger of Countryside Partnerships plc and Vistry Group plc
Browning West, LP ("Browning West" or "we"), which beneficially owns approximately 15.3% of the outstanding shares of Countryside Partnerships plc ("Countryside" or the "Company"), today issued the following statement in support of the recently announced business combination between Countryside and Vistry Group plc ("Vistry").
Usman Nabi, Founder and Chief Investment Officer of Browning West, said:
"We strongly support the merger between Countryside and Vistry, which we believe will unlock significant long-term value for Countryside's shareholders. We believe this transformational combination will not only establish an outstanding Partnerships business, with high return-on-capital, high growth prospects and strong executive leadership, but it will also position the business to more effectively address the UK's acute affordable housing shortage. Following the merger, both the Partnerships and Housebuilding segments will have substantial scale and resources, which creates the option to separate each division in the future."
Nabi continued:
"Greg Fitzgerald has one of the best track records of operating performance and value creation in the UK housebuilding sector, and we have great confidence in his ability to successfully integrate Countryside and lead the combined company as it continues to grow. Greg and his team are well qualified to capture the latent potential in Countryside's business and to generate significant operating synergies between the two companies. We are excited to remain shareholders going forward."
About Browning West, LP
Browning West is an independent investment partnership based in Los Angeles, California. The partnership employs a concentrated, long-term and fundamental approach to investing and focuses primarily on investments in North America and Western Europe.
Browning West seeks to identify and invest in a limited number of high-quality businesses and to hold these investments for multiple years. Backed by a select group of leading foundations, family offices, and university endowments, Browning West's unique capital base allows it to focus on long-term value creation at its portfolio companies.
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