(Alliance News) - Henry Boot PLC said Friday it has acquired a majority shareholding in multi-tenure housing contractor Starfish Commercial Ltd for a nominal consideration.
The property development firm said that Starfish is based in Derbyshire, and is also a joint venture partner with Magenta Living in Hilbre Homes, which provides housing opportunities in Cheshire.
The acquisition is expected to allow Starfish to continue providing its current order book and grow its business, while Henry Boot benefits from being granted entry into a new operational area.
"Henry Boot Construction look forward to working with Starfish Commercial and their management team. Starfish have an exceptional reputation in the Social Housing Market with a number of long term relationships and repeat clients," said Managing Director Simon Car.
"We believe we can help Starfish grow and continue to deliver high quality housing for both its existing clients and for new partners. Further, we also believe this acquisition will provide a presence in a very exciting and growing market that is an excellent fit for us," Carr added.
Shares in Henry Boot were down 1.3% at 233.50 pence on Friday in London.
Henry Boot (BOOT)