A major acquisition has been announced by Galliford Try Partnerships, who has agreed a deal to acquire developer Strategic Team Group. The purchase supports the company’s ambitious growth strategy, targeting growth in key regions around the country to increase the supply of new homes.
Strategic Team Group, 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, Strategic Team Group reported revenues of £61.8m and delivered over 500 new homes.
“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,” commented Andy Watson, Managing Director of Strategic Team Group.
The management team and staff at Strategic Team Group will remain in place, working within Partnerships to accelerate both business’ growth plans. The company will begin to trade as Galliford Try Partnerships Yorkshire from 1 July 2019.
“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,” said Stephen Teagle, Chief Executive of Galliford Try Partnerships.
In 2016, Galliford Try Partnerships led the successful acquisition of Drew Smith Limited, based near Southampton, to create a Southern region to the business.