Keepmoat swoops on north west social housing builder

Keepmoat has struck a deal to buy a £40m turnover social housing development specialist MCI Developments.

The Wigan-based firm delivers packaged developments of affordable homes for housing associations across the North West and West Midlands.

MCI Developments has worked on schemes across the North West for Liverpool Mutual Homes, Great Places Housing Group and Places For People.

It is currently building over £70m of contracts for registered providers at 18 sites, with a strong pipeline of sites worth more than £100m to be developed over the next three years.

The firm will continue to operate as before with no changes to the day to day management and operation of the business. 

£1.1bn turnover Keepmoat said the deal marked another positive step towards achieving its ambitious growth targets.

Dave Sheridan, Keepmoat chief executive, said: “The MCI Developments model is a natural fit with Keepmoat’s capital light business model and the two businesses already have a number of clients in common.

“We’re looking forward to working with them towards our common goal of building more homes faster and making a positive contribution to solving the UK housing crisis.”

Andy Garnett, Director, MCI Developments added: “We are delighted to have completed the deal with Keepmoat and we recognise the significant financial and operational benefits that this will generate for the long term growth of our business.”

from Construction Enquirer http://www.constructionenquirer.com/2016/12/16/keepmoat-swoops-on-north-west-social-housing-builder/

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