Deal over city building firm

THE Miller family has given up control of Edinburgh-based builder the Miller Group in a £160 million refinancing deal with US private equity giant Blackstone.

Details of the deal have not been released, but it was reported today banks including Lloyds and RBS were likely to have swapped some of the firm’s £730m debt for equity.

Chief executive Keith Miller will continue in his post and the head office will remain in the Capital.

Miller Group, founded in 1934, is the UK’s largest privately-owned builder and employs around 1400 staff.