Henry Boot agrees £65m deal to take full ownership of Stonebridge Homes

Henry Boot has agreed a deal worth up to £65m to buy out its joint venture partner of Stonebridge Homes over the next five years.
The deal for the regional housebuilder will happen in three stages, with just over half of the deal’s potential value linked to the performance of Stonebridge over that period.
Stonebridge Homes was formed in 2010 by Darren Stubbs and Henry Boot and is a premium housebuilder mostly operating in Yorkshire and the North East. In 2023 it generated £94m revenue and completed 251 homes. It has a medium-term target of delivering up to 600 homes a year.
The housebuilder plans to move into a third region, the North Midlands, over the next 12 months, and is in the process of securing sites.
Henry Boot chief executive Tim Roberts said the deal is “a significant part of our plans for growth”.
He added: “This transaction represents an important strategic milestone for Henry Boot, allowing us to acquire full ownership of a high growth builder of premium residential homes that we already know well through our existing 50% share in the business.
“The acquisition of Stonebridge also further cements our position in the UK house-building sector, a market which currently benefits from a number of supportive structural and political tailwinds, while at the same time simplifies Henry Boot’s structure.”
The first phase of the deal will see Henry Boot pay £10m for 12.5% of Stonebridge. The second phase is scheduled to be confirmed in January 2026, for 12.5%, with the remaining 25% acquired in January 2030.
The fixed payments are expected to total £30m, with additional payments linked to a multiple of 1.6x tangible gross asset value of Stonebridge at the time each tranche is completed.