The deal supports Galliford Try鈥檚 house-building ambitions in growth regions around the country.
Strategic Team Group, a mixed-tenure housing specialist based in Yorkshire and the northwest, has 120 direct employees and currently has 23 live sites. In the year to September 2018, it reported revenues of 拢61.8m, pre-tax profit of 拢1.3m and built more than 500 homes along the M62 corridor.
The management team and staff at Strategic Team Group will remain in place and the company will trade as Galliford Try Partnerships Yorkshire.
Stephen Teagle, chief executive of Galliford Try Partnerships, said: 鈥淲e 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 northwest. 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.鈥�
Strategic Team Group managing director Andy Watson said: 鈥淕alliford 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.鈥�
In 2016, Galliford Try Partnerships added a Southern regional division through the acquisition of Drew Smith Limited, near Southampton.
Got a story? Email news@theconstructionindex.co.uk
