Galliford Try acquires South East-based contractor

The FTSE 250 firm’s regeneration arm Galliford Try Partnerships hopes the deal will generate work in the South Coast region.

Drew Smith Group has been operating since the late 1980s. Drew Smith Ltd had turnover of £49.2m in 2015, while sister firm Drew Smith Homes had revenue just in excess of £580,000 for the same period.

Managers and staff at the firm will remain in place, working within the Galliford Try group to accelerate growth plans.

Stephen Teagle, chief executive of partnerships and regeneration at Galliford Try, said: “We are really excited to have reached agreement with Drew Smith, which is a great fit for our growing business.

“The Southern region holds great potential for us to expand our regeneration offering and help accelerate delivery.”