A MAJOR South Lakeland property developer is on a ‘recruitment drive’ after being purchased by another company.
Kendal-based Russell Armer has been bought by Genesis Homes for an amount that remains ‘undisclosed’.
Nicky Gordon, chief executive of Genesis, headquartered at Penrith, said it was ‘business as usual’ after the purchase.
“The only changes are operational efficiencies brought through the merger of shared skillsets and experiences of the two companies which will only strengthen both businesses,” he said.
“Both companies have a significant development pipeline over the next five years, with new development sites starting in the Russell Armer business at Burneside Road, Kendal, and Halton village in the coming months.
“The Russell Armer business is now on a recruitment drive, with a substantial number of new construction trade contractors required, such as joiners, bricklayers, plasterers, and such like.”
Mr Gordon said the combined businesses would create a ‘regional housebuilder across Cumbria’.
He felt such an organisation was ‘long needed to challenge a marketplace monopolised by just a few large housebuilders’.
“Russell Armer has been an established housebuilder for the last 60 years,” he said.
“For the past 30 years the business was led by Martyn Nicholson and Andrew Taylor, and they were looking for both personal retirement and to ensure that the business continued to be successful and grow in the years ahead.
“We are proud that Martyn and Andrew identified Genesis as the company and leadership to take the business forward and they shared in our excitement.”
Genesis Homes was advised by corporate and commercial property teams at Baines Wilson, a law firm in Cumbria and Lancashire.
Andrew Hill, head of corporate and commercial at Baines Wilson, said: “It was a pleasure to work with the Genesis Team on this acquisition.
“It is a testament to their identity as a leading property developer in the region and we are pleased to continue to assist them in their plans for growth.”