Bright future for MJH Group as Asahi Kasei Becomes Majority Shareholder
Asahi Kasei Homes Corporation (AKH) has confirmed today it will acquire an 80 per cent shareholding of MJH Group, Australia’s third largest residential home builder, based on an agreement dated April 16, 2021.
This transaction follows an initial purchase of a 40 per cent stake in the MJH Group in July 2017.
MJH Group is headquartered in Newcastle NSW and operates across NSW, ACT, QLD, Tasmania and South Australia.
MJH Group Managing Director Andrew Helmers maintains his 20 per cent share of the business and said the acquisition provides further opportunities to expand into new markets.
“The ongoing investment by AKH in the MJH Group is a sign of confidence in the company and our ability to deliver not only award-winning homes but excellent customer service,” Mr Helmers said.
“Since the initial investment by AKH we expanded our operational footprint into Adelaide with the acquisition of Weeks Building Group and Allsteel Homes, our focus is now firmly on the Victorian market.
“The initial transition with AKH in 2017 was seamless and this transaction will be no different. For our customers and our staff, it will simply be business as usual.
“We don’t aspire to be the biggest builder, our focus is being the best builder, AKH have similar values to us which is why this partnership has worked so well to date.” Mr Helmers said.
MJH Group’s Independent Chair Ian Williams, believes the majority ownership by Asahi Kasei Homes will enhance the Group’s access to leading R&D in building materials and design and capital to continue to grow the business
Asahi Kasei Homes’ significant commitment to product research and improvement is all about delivering a quality, customised building experience for consumers. It gives our brands access to innovative designs and leading building product development” Mr. Williams said
“I look forward to working with Asahi Kasei and the new board deliver our strategically aligned objectives.”
The MJH Group through its customer facing brands of McDonald Jones, MOJO, Brighton, Wilson and Weeks Homes is committed to delivering exceptional customer service and high calibre homes.