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Major house builder acquires northern developer
Galliford Try Partnerships has agreed a deal to acquire developer Strategic Team Group as it looks to grow its presence in the North of England.
The house builder said that the acquisition supports its “ambitious growth strategy” for its Partnerships division, which works with housing associations and local authorities on regeneration projects.
Strategic Team Group, which is based in Yorkshire and the North West, employs a total of 120 staff and currently has 23 live sites. In the year to September 2018, the company reported revenues of £61.8m and delivered more than 500 new homes.
The management team and staff at Strategic Team Group will remain, working within Galliford Try’s Partnerships division from 1 July.
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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 North West.
“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.”
The purchase adds to a previous move by Galliford Try Partnerships to establish a southern arm with the acquisition of Southampton-based developer Drew Smith. The deal also allowed Galliford Try to expand its existing regional businesses in the West of England, the Midlands and London.
Andy Watson, managing director of Strategic Team Group, said: “Galliford Try Partnerships is an excellent fit for Strategic Team Group 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.”
