Wilson Connolly (Wilcon) is to extend its reach into the north-west of England by purchasing Wainhomes for £61.8m.
The deal was announced on April 11 and should be sealed at a shareholders’ meeting on April 27.
It will be the third significant takeover among housebuilders this year, following Persimmon‘s £560m acquisition of Beazer and Taylor Woodrow‘s £535m purchase of Bryant (TTJ February 3).
Wilcon is developing its Buildpack supply chain programme and Prestoplan timber frame operation to develop efficiency and consistency in the build process. Wainhomes does not build timber frame homes though a Wilcon spokesperson suggested that could change.
The purchase will give Wilcon 3,407 plots with planning consent, as well as 7,600 potential plots.
