Regional law firm Paris Smith LLP has facilitated the sale of Bargate Homes by acting for the shareholders of the residential developer, as VIVID pushes forward with its ambitious house building plans to develop 17,000 more homes in the south over the next 10 years.
By acquiring Bargate, VIVID has the extra land it needs to maintain the momentum of its house building programme, and further expertise in land management and construction to achieve more for its customers than either company could individually.
Amanda Brockwell, partner at Paris Smith, commented: “It has been a great privilege for me to work alongside Gerard Price and the Bargate team since it was set up 12 years ago.
“I have seen the company grow from its initial incorporation, attract investment from equity and from banks, and grow its turnover and reputation for quality housing across the region.
“This comes from strong and inspiring leadership, great people management and, most of all, genuine commitment to the staff and customers of Bargate Homes. It will remain a strong team with a strong brand across the south.”
Both businesses will retain their own identity, values, people, ways of working and approach to housebuilding, and will continue to work with a wide range of existing partners.
Amanda Brockwell has previously advised Bargate Homes on a number of innovative deal structures which facilitated its growth including debt and equity funding.