McInerney Holdings pays €13.0m for British building firm Alexander
Alexander Developments was founded in the mid-1980s by chief executive Alex Chaytor and has an established reputation as a leading independent housebuilder in the north east of England. Based in Prime Minister Tony Blair's Sedgefield constituency, the company operates within an area bounded by Newcastle, Sunderland and Middlesbrough with a population catchment of more than two million. McInerney said its strategy in the British market is to secure earnings growth both organically and through acquisition.
"The acquisition of Alexander is a further step towards achieving the group's ambition to grow its UK operations to a scale and size similar to McInerney's Irish home building division. A progressive management team is in place at Alexander, with experience and vision that will benefit further from McInerney's involvement," the company said.
