Cala sold to equity firm in £210m deal
Patron Capital Partners and insurer Legal & General will each acquire a 46.5 per cent stake in the business from Lloyds Banking Group.
The remainder will be held by Cala’s management team.
Chief executive Alan Brown said: “Having invested heavily in growing our land bank since 2010, we are now very well positioned to grow the business significantly over the next five years.
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Hide Ad“From our perspective, the timing of this transaction is perfect, and I am tremendously excited about what this deal means for our business as we look forward to a long and fruitful relationship with Legal & General and Patron, both of whom share our values and are passionate about this new partnership.”