Fri, 04 Oct 2024 | BUSINESS SALE
Chartway Partnerships Group, a private equity-backed housebuilder based in Kent, has revealed a double acquisition completed earlier this year. The Coxheath-based company has announced that it completed the acquisitions of OFP Timber Frames and Discovery Stairs & Joinery in March 2024.
Chartway Partnerships Group is owned by Cabot Square Capital, which acquired a majority shareholding in Chartway in 2022. According to the group, the two acquisitions increase its in-house supply chain capability to 47 per cent, which will enable greater efficiency and improved speed in delivery of new homes.
The group added that both companies already play a key role in its supply chain and that the integration of the pair “comes as a natural progression following years of successful collaboration on new homes projects”.
OFP Timber Frames, which is based in Sandwich, produces structural timber frames. The company is led by owner Alastair Narraway, who has also been appointed as Managing Director of Chartway’s drylining and screeding division, Chartway Drylining (CDL), following the takeover.
This dual role will see Narraway continue to lead OFP as owner, while driving growth at CDL through expansion of its customer base, improved operational efficiencies and the creation of cross-selling opportunities within the Chartway group.
Narraway said that the deals were “a fantastic opportunity to strengthen the group’s offering to new and existing partners, while building on our commitment to sustainability and quality.”
He added that, through his role at CDL, he would work with the teams “to drive growth, enhance efficiencies, and expand our customer base in line with the Group’s vision of delivering homes for everyone."
Chartway has also acquired Broadstairs-based Discovery Stairs & Joinery, which supplies staircases and tailored joinery packs for volume and PLC housebuilders.
Steve Cresswell, Group CEO of Chartway, said that the “combined expertise and shared values” of the two acquisitions “will significantly enhance our ability to deliver new homes for our partners, while advancing our sustainability and ESG goals.”
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