Keepmoat has acquired MCI Developments as part of its plans to strengthen its position in the social housing sector.

The deal will see MCI Developments continue to operate as before, with no changes to the day to day management and operation of the business.

Overall, the agreement will see Keepmoat gain access to a wider customer base and supply chain, a combined pipeline and access to an larger pool of skilled industry professionals.

MCI Developments is currently delivering over £70 million worth of contracts and has a strong pipeline of sites worth in excess of £100m to be developed over the next three years.

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Keepmoat Chief Executive Officer, Dave Sheridan, said: "I'm delighted to announce that we have reached an agreement with the shareholders of MCI Developments.

"The MCI Developments model is a natural fit with Keepmoat's capital light business model and the two businesses already have a number of clients in common. We're looking forward to working with them towards our common goal of building more homes faster and making a positive contribution to solving the UK housing crisis."

Andy Garnett, Director, MCI Developments, added: "We are delighted to have completed the deal with Keepmoat and we recognise the significant financial and operational benefits that this will generate for the long term growth of our business."

(LM/MH)