Housebuilder Macbryde Homes has been sold to managing director Gwyn Jones and long-term finance partner Bridgemere UK, chaired by Redrow founder Steve Morgan.
The deal sees the purchase of the shareholdings of founder Simon Macbryde and Ruth Macbryde.
Jones said: “I am delighted to have concluded the purchase alongside Bridgemere. 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.
“I am very grateful to Simon and Ruth for the opportunity they gave me when I joined the business 6 years ago and wish them the very best in the future”.
Macbryde’s North Wales division has just moved into new offices at St Asaph Business Park, doubling the size of its previous premises. The business is also moving into a second office at Preston Brook, close to Runcorn.
Jones 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.”
Morgan, who departed Redrow early in 2019with warnings over NIMBYism and Help to Buy, 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.”