Deeside based Redrow buys East Midlands housebuilder Radleigh Homes
Ewloe headquartered house builder Redrow plc has acquired East Midlands-based Radleigh Homes from Ark Capital Group.
The deal, for an undisclosed sum, will allow Redrow to expand its operations in the East Midlands, and establish a new division in thew region.
The acquisition will lead to more much-needed family homes being developed in the region say Redrow.
Radleigh Homes has been in operation for over two decades and completed around 200 new homes in 2016.
The business has a pipeline of over 1,300 plots with planning and a further 1,200 land banked plots.
Radleigh will be re-branded to Redrow and it’s 70 employees will become part of a new Redrow Homes East Midlands division based out of the existing offices in Pride Park, Derby.
John Tutte, Chief Executive, Redrow, said,
I’d like to thank Peter Gadsby, for the opportunity to acquire the business and I welcome the Radleigh Homes team to Redrow.
As a result of the deal, additional and much-needed quality homes will be built in the region – benefitting local customers, colleagues and businesses within the supply chain.The acquisition will allow us to roll-out the Redrow brand to new customers, and add to our existing portfolio of developments in the East Midlands. We’re looking forward to introducing our award-winning product range to even more homebuyers in the region.
Peter Gadsby, Radleigh Homes, said,
I am delighted that Redrow have decided to acquire the business as they hold similar values to our own. I have personally known and done business with Steve Morgan CBE for many years and have identified Redrow as the perfect fit to take Radleigh on to the next stage.
Ark Capital has numerous land holdings under ownership and options and will be working closely with the Redrow team to get necessary consents and to bring these sites forward to development.
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