An investment company has taken a £4.25 million stake in Woodall Group, the owner of Derbyshire house builder Woodall Homes.
BGF has made the investment to help Woodall Homes, based in Barlborough, near Chesterfield, buy land, build more homes, create more jobs and underpin long term growth.
Founded in 2011, Woodall Homes has built across the East Midlands, most recently working on developments in Chesterfield town centre, Newbold, Duckmanton, Pleasley, Clowne and Bolsover, close to the historic Bolsover Castle.
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Dave Wood, Woodall’s founder and managing director, remains the majority shareholder in the housebuilder and will lead its next stage of growth.
Mr Wood said Woodall Homes had an emphasis on premium finishes, build quality and designs that complemented local surroundings, with sustainability embedded in the construction process.
Following an introduction by BGF, Woodall Group has appointed Derek Mapp, founder of Tom Cobleigh and chair of Mitie plc, as non-executive chair. Aaron Baker and Olly Cutting led BGF’s investment, and Mr Baker will join the board.
Dave Wood said: “After a decade of building an established and reputable business, we are now looking ahead to the next stage of our growth. BGF’s investment will allow us to accelerate our land bank and development activity to meet the immediate and longer-term demand for quality housing on attractive developments.
“We explored several different options for the business, and it was important to find a funding partner aligned with our goals. BGF understood our ambitions from day one.
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“We have got to know the team well over the past few months and are looking forward to moving forward with their backing.”
Aaron Baker said: “Woodall Homes is a great business with an outstanding reputation for quality and has the confidence and capability to grow quickly.
“Having backed several regional housebuilders, we understand the dynamics of the market and the potential for longer-term growth. We are very excited to be backing Dave and the team, and to have attracted a chair of the quality of Derek Mapp.”
The investment into Woodall Group topped off a busy 2020 for BGF’s Nottingham team, having backed Hinckley-based 海角视频 Flooring Direct in November, and investing in AIM Listed Anpario in July.
Mr Baker said: “BGF is well suited for businesses across all sectors and stages of development, and our investment activity in 2020 proves this.
“Over the last nine years, we have now backed nearly 400 companies with £2.5 billion of capital.
“After the turmoil of 2020, the availability of equity capital to support growth and strategic aspirations will be even more important in 2021, and BGF has a prominent role to play in enabling and accelerating growth potential in the 海角视频 SME landscape.”
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BGF has backed a number of regional developers over the years, with investments in Braidwater, Campion Homes, Winterbrook, Apex Housing Group and Cussins – the latter going on to be acquired by Northumberland Estates.
BGF was advised by Knights plc, Navigo Consulting and BDO, while Woodall Homes was helped by Gosschalks, UHY Hacker Young and Benchmark.