Derbyshire housebuilder secures £4.25m investment from BGF
BGF has invested £4.25m into Wodall Group, the owner of Midlands house builder, Woodall Homes.
Woodall Group plan to use the funding to support the acquisition of land in prime areas, support long-term growth and increase development activity.
Wodall Group have now appointed Derek Mapp, founder and chair of Mitie plc as non-executive chair and Aaron Baker, who led BGF’s investment alongside Olly Cutting, will join the board.
Dave Wood founder and managing director of Woodall Group 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. 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.
“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.”
The advisers to the transaction were:
BGF: Knights plc (Legal), Navigo Consulting (Financial) and BDO (Tax).
Woodall Homes: Gosschalks (Legal), UHY Hacker Young (Tax), Benchmark (CF).