Tue, 22 Sep 2020 | MBO/MBI
Welsh home construction firm Macbryde Homes has been sold to its managing director Gwyn Jones and Bridgemere UK, a long-term finance partner, in a multi-million-pound deal. The deal, which was led by Gwyn Jones, involves the purchase of the shares of founder Simon Macbryde and Ruth Macbryde.
The North Wales division of the business has just moved into new offices at St Asaph Business Park this week, doubling the size of its previous offices as the company eyes further growth in Wales. It is also moving into a second office at Preston Brook as it seeks to expand into the North West of England. Macbryde will build around 200 homes this year.
Regarding the future of the business, Gwyn Jones commented: "With the management strength and balance sheet of Bridgemere behind us, we have an excellent platform for significant growth as we look to increase our geographical footprint across the North West.”
He added: “There are lots of exciting plans and developments being prepared for our business in the weeks and months ahead and we look forward to announcing these in due course.”
Bridgemere Chairman Steve Morgan CBE, who is also the founder and former Chairman of Redrow, said: “We are pleased to have acquired Macbryde Homes and are committed to supporting Gwyn with his growth plans for the business to become a major force in the region.”
In Macbryde Homes’ most recent accounts, for the year ended March 31 2019, the company reported turnover of £29.9 million and profit for the year of £638,208. The company’s current assets at the time were valued at £14.3 million, fixed assets at £76,996, with net assets of £1.75 million.
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