Johnston Carmichael has supported Springfield Properties plc with its acquisition of the Scottish house building business of Mactaggart and Mickel Group Ltd.
Johnston Carmichael’s corporate finance team provided financial due diligence and lead advisory services, with the transaction also supported by the firm’s tax specialists and financial reporting advisory services team.
This is the fourth acquisition Johnston Carmichael has assisted Springfield Properties with, following its 2021 acquisition of Tulloch Homes, its 2019 acquisition of Larbert-headquartered Walker Group, and the acquisition of Glasgow-based Dawn Homes in 2018.
Springfield has been building homes since the 1990s, growing from its beginnings in Moray to become one of Scotland’s leading developers of private and affordable homes.
Mactaggart and Mickel was first established as a house building company in 1925, and primarily targets the market in the Central Belt of Scotland.
Springfield’s acquisition of the Scottish house building arm of Mactaggart and Mickel sees it take on six live private and affordable sites as well as a brand licence to build homes as Mactaggart and Mickel on a further 11 sites; equating to approximately 700 homes overall.
Gordon McCarlie, corporate finance director at Johnston Carmichael, said: “We are very pleased to have supported Springfield Properties once again as the group continues to bolster its expanding portfolio. We thoroughly enjoy working with the team and look forward to seeing them capitalise on the growth opportunities that this latest deal has generated.”