TopHat Secures £75M Funding Boost: Pioneering Modular Housing Revolution

April 19, 2019

Author: Karan Bodh
TopHat Secures £75M Funding Boost: Pioneering Modular Housing Revolution

TopHat, the UK’s premier technology-driven modular housing manufacturer, has secured a substantial £75 million investment from Goldman Sachs. This infusion of capital marks a significant milestone for TopHat, founded in 2016, which has rapidly become a frontrunner in revolutionising the construction industry.

Since its inception, TopHat has been committed to innovation, boasting a state-of-the-art manufacturing facility in South Derbyshire. Production commenced in 2018, showcasing the company's dedication to pioneering technology and manufacturing processes. Their efforts culminated in the development of high-quality modular housing solutions aimed at addressing the UK's housing crisis.

The partnership with Goldman Sachs underscores TopHat's trajectory of success and its pivotal role in reshaping the construction landscape. Jordan Rosenhaus, the founder of TopHat, expressed his enthusiasm, stating, "This transaction is a sign of the tremendous progress TopHat has made... and the significant market opportunity in the housing and digital construction sectors in the UK."

Goldman Sachs' investment signals confidence in TopHat's potential to drive innovation and efficiency in the housing sector. Tavis Cannell, managing director at Goldman Sachs, highlighted TopHat's technology-driven approach, emphasising its capacity to address the UK's housing shortage effectively.

The infusion of capital not only validates TopHat's vision but also positions the company to accelerate its production capabilities. With plans to ramp up production, TopHat aims to deliver a diverse range of homes, including two- to three-bedroom terraced houses and three- to five-bedroom townhouses. The upcoming development at Kitchener Barracks in Chatham, Kent, serves as a testament to TopHat's commitment to delivering high-quality, design-differentiated homes.

The timing of this investment aligns with the UK government's ambitious housing targets, aiming to build 300,000 homes annually by the mid-2020s. Recognising the role of offsite construction in achieving these targets, Homes England's chief investment officer, Gordon More, emphasised the significance of private investment in supporting SMEs like TopHat. He underscored the importance of collaborative efforts to drive innovation and address the housing shortage effectively.

TopHat's partnership with Goldman Sachs not only bolsters its financial standing but also signifies a broader shift towards embracing technological advancements in construction. By leveraging cutting-edge technology and modern methods of construction, TopHat is poised to lead the charge in delivering sustainable, high-quality homes at scale.

Moving forward, TopHat remains committed to its mission of providing innovative housing solutions that meet the evolving needs of communities across the UK. With Goldman Sachs' backing and a steadfast focus on innovation, TopHat is well-positioned to shape the future of the construction industry and make a meaningful impact on the UK's housing landscape.