13/05/2015

Shepherd Group agrees to sell Shepherd Homes business to Galliford Try

SHL logoShepherd Group has agreed to sell its Shepherd Homes business to Galliford Try.

Shepherd Group has been reviewing its operations to ensure each business is in the best possible position to take advantage of future trading opportunities. This has led to the opportunity to sell Shepherd Homes to Galliford Try who will add it to their existing house building business, Linden Homes

Shepherd Group and Galliford Try have exchanged contracts and expect to complete the sale of Shepherd Homes’ assets, comprising six current sites and five sites in planning, at the end of May. Shepherd Homes employs around 60 people who are expected to transfer to Linden Homes once the deal is completed.

Shepherd Group chairman David Williams said: “This was not an easy decision for the Group Board, particularly given the recent strong performance of Shepherd Homes, but this transaction represents an exciting opportunity for both the business and its employees for the long-term. Galliford Try, through Linden Homes, is exceptionally well placed to build on Shepherd Homes’ considerable progress and achievements.

“Growth and continuing success in the homes market demands ongoing large-scale capital investment which it was felt would be better achieved with a Group which has significant scale in the housing sector as well as a desire to grow its presence in the North.

“Galliford Try was a natural partner for Shepherd Homes and the Group Board considers that this decision will prove beneficial for Shepherd Homes and its employees while enabling the wider Shepherd Group to continue to pursue its strategy of focusing future investment on distinct areas of the Group, including the development and further expansion of our successful Portakabin business.”