Scottish housebuilder buys rival Dawn Homes for £20.1m

Dawn Homes

Elgin-based Springfield Properties eyes growth north of the border

AIM-listed Scottish housebuilder Springfield Properties has snapped up rival firm Dawn Homes in a deal worth £20.1m.

Elgin-based Springfield is part-financing the acquisition via a £15m share placing.

Dawn Homes, headquartered in Glasgow, reported pre-tax profit of £3.1m for the year to the end of January 2017 on turnover of £22.6m.

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