Westleigh Partnerships Ltd (Westleigh), a leading affordable housing provider, has announced it has secured growth capital investment from Palatine Private Equity. The transaction, which is worth €78 million, was introduced by Clearwater International.
Established in 1985 by Chris and Judy Beighton, Westleigh is one of the largest housebuilders focusing on the delivery of affordable homes to Registered Providers (RPs). In line with growing demand, the company anticipates sales will rise to approximately €200 million by 2018. Westleigh currently employs over 300 staff.
Palatine will support the company as it continues to tap into a flourishing affordable housing market. Palatine partner Gary Tipper and investment director Richard Thomas will join the board as Non-Executive Directors.
The business will continue to be led by Ian Jones as managing director with founder Chris Beighton as chairman.
The deal was introduced by Clearwater International – led by managing partner Phil Burns, who was supported by director Rob Burden and senior associate Mark Gillingham.
Austin Moore acted as legal advisers to Westleigh.
“It is a testament to all our staff’s achievements that we find ourselves in a position of strength and this investment signifies an important period of further growth for the company.”
Chris Beighton, chairman, Westleigh
“We’re delighted to be backing such a high quality business; Westleigh has some ambitious plans over the next few years and we’re looking forward to supporting the company as it expands across the UK and builds on its position in the affordable housing market.”