Galliford Try to acquire Northern developer

Galliford Try Partnerships has agreed a deal to acquire Northern developer Strategic Team Group. The Yorkshire-based land developer has a portfolio of 23 sites including Bradford, Liverpool and Leeds. In the year to September 2018, STG reported revenues of £63m and delivered 500 homes, with an order book of £87m. Stephen Teagle, chief executive of Galliford Try Partnerships, said: “[The agreement] will enable us to expand our regeneration offering and help accelerate delivery in Yorkshire and the North West.” The new company will begin to trade as Galliford Try Partnerships Yorkshire from 1 July. In 2016, Galliford Try Partnerships led the successful acquisition of Drew Smith, based near Southampton, to create a Southern region to the business. Last year, it announced a tie-up with Sigma Capital Group, targeting PRS development in the West and South West regions. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette