Construction News

Thu May 28 2020

Related Information

House-building acquisition for Galliford Try

18 Jun 19 Galliford Try Partnerships has agreed a deal to acquire Strategic Team Group, a contracting and land-led developer in the north of England.

A Strategic Team Group development, Lairds Way in Penistone for Yorkshire Housing/Space Homes
A Strategic Team Group development, Lairds Way in Penistone for Yorkshire Housing/Space Homes

The deal supports Galliford Try’s house-building ambitions in growth regions around the country.

Strategic Team Group, a mixed-tenure housing specialist based in Yorkshire and the northwest, has 120 direct employees and currently has 23 live sites. In the year to September 2018, it reported revenues of £61.8m, pre-tax profit of £1.3m and built more than 500 homes along the M62 corridor.

The management team and staff at Strategic Team Group will remain in place and the company will trade as Galliford Try Partnerships Yorkshire.

Stephen Teagle, chief executive of Galliford Try Partnerships, said: “We are really excited to have reached agreement with Strategic Team Group, which is a great fit for our growing business. It will enable us to expand our regeneration offering and help accelerate delivery in Yorkshire and the northwest. As we grow, we will continue to offer exciting employment opportunities and bring together the skills across the business to deliver high quality developments. We look forward to working with new and existing clients to bring forward the supply of more homes.”

Strategic Team Group managing director Andy Watson said: “Galliford Try Partnerships is an excellent fit for STG and we believe the deal will help to accelerate growth in areas where we see real opportunity for housing supply, helping to deliver development objectives for clients.”

In 2016, Galliford Try Partnerships added a Southern regional division through the acquisition of Drew Smith Limited, near Southampton.

Thank you for reading this story on The Construction Index website. Our editorial independence means that we set our own agenda and where we feel it necessary to voice opinions, they are ours alone, uninfluenced by advertisers, sponsors or corporate proprietors.

Inevitably, there is a financial cost to this service and we now need your support to keep delivering quality trusted journalism. Please consider supporting us, by purchasing our magazine, which is currently just £1 per issue. Order online now. Thanks for your support.

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view more construction news »