Housebuilder receives £4.25m equity investment

Woodall Group, the owner of Derbyshire house builder Woodall Homes, has received a £4.25m investment from BGF.

The funding will be used to support the accelerated acquisition of land in prime locations, to underpin long term growth, and to increase development activity and building output over the coming years.

Dave Wood, founder and managing director, remains the majority shareholder in the Derbyshire-headquartered business and will lead its next stage of growth.

Founded in 2011, Woodall Homes has recently been working on developments in Chesterfield town centre, Newbold, Duckmanton, Pleasley, Clowne and Bolsover, close to the historic Bolsover Castle.

Following an introduction by BGF, Woodall Group has appointed Derek Mapp, founder of Tom Cobleigh and chair of Mitie, as non-executive chair.

Aaron Baker and Olly Cutting led BGF’s investment, and Baker will join the board.

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. We have got to know the team well over the past few months and are looking forward to moving forward with their backing.”

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.”