A HAMPSHIRE house builder has been acquired by a national developer.
Galliford Try, is a FTSE 250 business and one of the UK’s leading building groups with revenues of £2.7 billion.
It employs around 600, and has worked on high-profile projects all over the country including the centre court roof at Wimbledon, the London Olympic Village and the arts centre in Southampton.
The group is made up three main businesses Galliford Try Partnerships, Galliford Construction & Investments and Linden Homes.
The purchase comes after the recent publication of Galliford Try Partnerships’ new strategy, targeting growth in key regions around the country where it has yet to establish a presence in the "affordable" homes market.
Although Linden Homes has a strong presence in the housing market Galliford Try Partnership does more work directly with housing partnerships and builds more "mixed tenure" developments with a higher percentage of affordable homes.
Drew Smith Limited and Drew Smith Homes provides "an excellent operational fit for our partnerships’ business, opening up the southern region to the business" said Galliford Try.
It said the current management and 80-strong staff team at Drew Smith will remain in place and the Drew Smith name will continue to be used for the foreseeable future.
Drew Smith is currently working on project at Silverline Place in Winchester, Carnaval Gardens in Fairoak and Clewers Place in Waltham Chase.
Stephen Teagle, chief executive of partnerships and regeneration for Galliford Try, said: “We are really excited to have reached agreement with Drew Smith which is a great fit for our growing business.
"The Southern region holds great potential for us to expand our regeneration offering and help accelerate delivery. We look forward to working with new and existing clients to bring forward opportunities to increase the supply of new homes in the area.”