Springfield buys rival Scottish house builder for £46m
Springfield buys rival Scottish house builder for £46m
Abstract
Springfield will acquire 17 sites with planning permission for around 700 homes. The deal also includes Timber Systems, a timber frame factory near Glasgow. Around £10m will be paid upfront with further payments released in stages as schemes are completed. Springfield intends to retain all of Mactaggart & Mickel’s house building and Timber Systems staff. It will also give Springfield a second timber frame Factory in Elgin, which will increase capacity for future growth.
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