Redrow founder says he wants regional housebuilder to become “major force” in the North west
North Wales based housebuilder MacBryde Homes has been sold to its MD Gwyn Jones in a deal backed by Redrow founder Steve Morgan’s Bridgemere UK.
Gwyn Jones (pictured, left) said the deal meant the £30m turnover firm, which builds homes across North Wales, Cheshire and Lancashire, was now poised for “significant growth”.
The deal sees the firm’s founders Simon MacBryde and Ruth MacBryde sell their shares for an undisclosed “multi-million” sum to the firm’s 33-year old managing director and Bridgemere UK.
MacBryde sold 182 homes last year and has just moved into new offices at St Asaph Business Park to facilitate continued growth in Wales, while a second office at Preston Brook is planned to allow further expansion into North West England.
Gwyn 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”.
Bridgemere is an investment vehicle set up by Redrow founder Steve Morgan (pictured, right) with a series of investments in land and aviation. Morgan stepped down from Redrow in March 2019 ten years after returning to rescue the business he originally set up during the financial crash, and said he wanted MacBryde to become a “major force” in the North west.
Steve Morgan, chairman of Bridgemere, 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.”
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