The Board and shareholders of W.Westerman Ltd would like to express their thanks to the Provantage Team with their support for the disposal of high value historic assets, in a transaction that has been recognised on all sides as being exceptionally smooth and professional, in spite of the quantity of assets comprised in the disposal
Provantage Corporate Finance advises Westerman Homes on its sale to Peveril Homes
Project: Westerman Homes
Sector: Property and Construction
Deal Value: Undisclosed
Buyer: Peverill Homes & Peverill Securities
Provantage Corporate Finance advised W.Westerman Limited on the sale of a significant land bank to Peveril Homes and Peveril Securities, part of the Bowmer + Kirkland Group.
W.Westerman is a local family-run house building business that has been in operation for 88 years. Many generations of the Westerman family have built a significant land bank from its strong relationships with landowners and its trusted reputation. The transaction comprised some 725 acres of short and long term land.
Ralph Jones, Main Board Director of the Bowmer + Kirkland Group and MD of Peveril Securities commented “from one family-owned business to another we are delighted this transaction has completed and has emphasised the flexibility in the Bowmer + Kirkland Group of companies working together utilising our internal resources and finances to provide opportunities for the group in the future”
W.Westerman Ltd, will continue its heavy involvement as a Principal Partner of the Lindhurst Group at Mansfield, which is set to continue for a number of years.
Amanda Betts who led the transaction for Provantage Corporate Finance commented “We are delighted for our clients that the family legacy has been transferred to Peveril. It has been a pleasure to work with both parties and I wish them every success in the future”.