Catalyst advises on the management buy-out of Westleigh Homes backed by Palatine Private Equity

Catalyst Corporate Finance has advised Palatine Private Equity on its investment in Westleigh Homes.
Established in 1985 as a commercial property developer, Westleigh entered the housing market in 1992. Growing strongly since this time, with turnover in excess of £90 million, today it is a market-leading developer of affordable housing across the Midlands region. In the last five years Westleigh has delivered over 80 affordable schemes for more than 20 Registered Providers.
The Westleigh business model is unique with its strong land-led approach and in-house timber frame production delivering modern contemporary new homes. Along with their Registered Provider partners, the business is working with the Homes and Communities Agency to produce affordable new homes across the Midlands and beyond. With close partnerships and comprehensive in-house expertise, Westleigh is able to identify new sites and then build cost effective affordable housing, ensuring the delivery of sustainable communities and quality homes that meet local needs.

Catalyst advised Palatine Private Equity on the transaction including overall project management, an overview of the bank funding provided by European Capital and AIB, and final deal structuring and negotiation through to completion. Palatine Private Equity (Gary Tipper and Richard Thomas) has made an investment in the business with Managing Director Chris Beighton moving to Chairman and Business Development Director Ian Jones stepping up to Managing Director.
Simon Peacock, director at Catalyst who led the deal with Alastair Robertson said:

“We are delighted with this transaction which shows how important Westleigh is to UK housing development. Palatine’s expertise will be of great benefit to the new board. This is a fantastic business that has grown rapidly and the new investment will enable it to continue to expand across the wider Midlands region.”
Richard Sanders, Partner at Catalyst commented:

“This is the third deal from our Midlands team post-Brexit, following the MBOs of Steelite International and Belfield Furnishings. We have a very strong team across the Midlands and Westleigh is an excellent example of where we have advised an institutional acquirer of a Midlands private business in a sector we know well during a politically interesting period in the UK.”

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