Bovis Homes has announced the completion of its £1.1bn acquisition of Galliford Try’s Linden Homes and Partnerships & Regeneration businesses
Bovis Homes has been negotiating the deal since the two businesses began talks in September of last year.
The company will change its group name to Vistry Group plc. Vistry Group will be used for the housebuilding and partnerships businesses, keeping both the Bovis Homes and Linden Homes sub-brands.
Greg Fitzgerald, CEO of Bovis Homes, said: “I am delighted that we have completed the exciting and transformational acquisition of the Linden Homes and Partnerships & Regeneration businesses of Galliford Try plc.
“The combination of these businesses with Bovis Homes creates a top five housebuilder in the UK with the capacity to deliver over 12,000 homes per year in the medium term. It also gives us a leading position in the high-growth, more resilient partnerships market.
“Within the enlarged business, our commitment to ensuring the highest levels of build quality and customer satisfaction will remain central to everything we do.
“We would like to thank all shareholders for their engagement in this process and look forward to delivering the clear strategic and financial benefits of this combination.
“Finally, I would like to extend a very warm welcome to all our new colleagues and thank everyone collectively for their continued hard work and focus on our customers during this busy period.”
Effective from completion, Graham Prothero, who was the CEO of Galliford Try, has been appointed as COO of the company.
Former chief executive of Galliford Try’s Construction, Bill Hocking, has been appointed to CEO of Galliford Try Holdings plc, a newly-listed entity replacing the previous Galliford Try plc.
