Acquisition of Shareholding in Starfish Commercial

RNS Number : 5756I

Boot(Henry) PLC

09 August 2019

 

HENRY BOOT PLC

 ('the Company')

Acquisition of Shareholding

Henry Boot PLC announces that Henry Boot Construction Limited, its wholly owned subsidiary based in Sheffield, has acquired a majority shareholding in Starfish Commercial Limited, ('Starfish') for a nominal sum.

Starfish, who operate from their main office in Derbyshire, is a multi-tenure housing contractor, and is an established supplier to several Housing Associations and Local Authorities. It has been delivering affordable and social housing units for the last 4 years, often via framework arrangements. Starfish are also a joint venture partner with Magenta Living in a company known as Hilbre Homes, providing sustainable housing opportunities in the Cheshire area. The company's position as an established provider of affordable and social housing enables Henry Boot Construction Limited to take a step into this new operational area.

This acquisition, with the provision of investment and wider strategic and operational support to Starfish by Henry Boot Construction Limited, will enable Starfish to continue providing its current order book and to grow its business with a future pipeline of opportunities.

Simon Carr, Managing Director of Henry Boot Construction Limited, commented:

"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. 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".

Martin Gerrelli, Director of Starfish Commercial Limited, added:

"Henry Boot Construction Limited and the wider group have an excellent industry reputation and we are looking forward to working closely with Simon and his team in the accelerated delivery of multi tenure sustainable housing with our current partners and potential target clients."

For further information, please contact:

Henry Boot PLC

Amy Oakley

Company Secretary

Tel: [phone]

www.henryboot.co.uk

 

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