Campion Homes: Fife developer buys out major investor
A housebuilder with its headquarters in Fife has bought out a major investor.
Dunfermline-based Campion Homes has bought out BGF after it entered into a multi-million £ deal in 2016.
It follows a strong period for Campion Homes as it trebled in size, taking turnover from £14.6m to over £45m.
The company is utilising its profit growth and strong cash generation over BGF’s hold period to buy out its position in full.
Peter Bell, executive chairman, Campion Homes, said: “BGF has been a great partner for us over the last six years, sharing our pride and passion for the quality of build that sets apart a Campion built home.
“Our business has gone from strength to strength, with the BGF funding used to deliver even more quality homes across east central Scotland.
“With this exit completed in a mutually beneficial fashion, we now look forward to the next step on our growth journey.”
Family owned Campion Homes has been in business for over 30 years.
Since 1989, it has completed 2,300 homes across Fife, the Lothians, Clackmannanshire and, Perth and Kinross.
The business is now in a strong position for the future with a robust balance sheet and strong pipeline of sites - it recently began a significant development at Oak Bank, Glenrothes.
Euan Baxter, investor, BGF, said: “Campion Homes is a fantastic business that has a tremendously positive impact on the local economy in terms of the number of jobs it supports.
“We have thoroughly enjoyed working with its leadership group over the last six years, seeing the business scale rapidly.”