Firm buys Castleford-headquartered developer for undisclosed sum
Galliford Try Partnerships has agreed a deal to buy Strategic Team Group, a contractor and housebuilder based in Castleford.
Financial details of the deal were not revealed, although sources suggest a purchase price of around £6m.
Strategic Team Group (STG) employs a total of 120 staff and currently has 23 active sites being developed.
The firm has built homes for a number of clients including housing association Home Group (pictured).
Staff and management at STG will stay on and from next month the business will trade as Galliford Try Partnerships Yorkshire.
In the year to September 2018, the business reported revenues of £61.8m and a pre-tax profit of £1.26m. According to accounts filed with Companies House it completed 408 new homes last year.
Stephen Teagle, Galliford Try Partnerships’ chief executive, said STG was “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.
“We look forward to working with new and existing clients to bring forward the supply of more homes.”
Andy Watson, STG’s managing director, said the deal would prove to be an excellent fit for his firm.
“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,” he added.
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