HWA secures turnaround acquisition

UK-based building contractor HWA Group has been acquired by turnaround investor Privet Capital.

HWA specialises in high-end residential construction projects, but has been affected by a downturn in the UK housing and construction markets over the last three years, according to a statement released by Privet Capital.

The construction company recently completed a new Central Hub Gallery in London’s Victoria and Albert Museum.

Bob Cole, HWA’s managing director comments: ‘It is encouraging to see plenty of new work opportunities particularly at the top end of the residential market where we almost exclusively operate.’

Mark Hailey, previously director of various HWA divisions, will remain at the company as director accompanied by current commercial director Andy Wilkins.

Hailey comments: ‘The UK construction industry has had a tough few years but I am confident that, with the right financial backing and strategic direction, HWA is well positioned to prosper in the long term.’

As part of the deal, Privet Capital has appointed Andy Leeser to the board of HWA with immediate effect.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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