Acquisition puts housebuilder among top ten

Galliford Try has completed the acquisition of Linden Homes following the launch of a share offering which is helping to fund the deal.

In a statement to the London Stock Exchange this morning Galliford Try said it had admitted 100,230,056 to the exchange. The contractor is hoping to raise around £150m from the issue.

Linden Homes

Galliford Try won the race the buy Linden last month paying £109m for the housebuilder.

The acquisition of £276m-turnover Linden catapults Galliford Try into the UK’s top 10 housebuilder list and gives it a greater foothold in the South-east, where Linden is particularly strong. The combined company will build about 3,000 units a year, which gives it about the same output as Berkeley Homes.