Balfour Beatty has bought South Yorkshire-based Strata Construction for £10.3m

Strata, which was founded 90 years ago, specialises in affordable housing.

Balfour Beatty said its purchase would add to its Mansell division’s affordable housing portfolio and would form part of Mansell’s Midlands and North division.

Strata Construction’s associated company, Strata Homes, and its subsidiaries operate in the private sector and are unaffected by the sale.

Giles Taylor, corporate finance director at KPMG, who advised Strata on the sale, said: “This transaction shows that a good contracting business in a strong niche, like affordable housing, can still be a highly attractive strategic acquisition opportunity.”